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Food & Beverage

Nestle to Invest $100 Million in Indonesia

December 09, 2010
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Bloomberg reports that Nestle SA, the world’s largest food company, will invest $100 million in Indonesia to make Milo chocolate-flavored products and Cerelac weaning formula as purchasing power grows in Southeast Asia’s biggest economy. The company’s factory in West Java will be ready by the end of 2012 and initially employ about 300 people. Nestle will buy about 10,000 tons of cocoa powder annually from local farmers to make Milo, he said. Indonesia is the world’s third largest cocoa producer. Nestle is targeting Indonesian households with a monthly income of between 800,000 rupiah ($89) and 1.45 million rupiah, whose purchasing power is rising.

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