It is the first project launched among commitments made in the Global Investors’ meet held in Bangalore last month.
Briefing reporters, Nestle India Chairman & Managing Director of Antonio Helio Waszyk said the company is investing Rs 360 crore for the new project. The Nanjangud plant will be fifth in noodles segment, after Goa, Uttaranchal, Himachal and Punjab. The need for a new plant was felt due to growing demand for its maggi noodles and also for logistics. The unit will be first in the South India catering to the market in the region, he added.
“We are the leader in the noodles and segments like coffee and others. The company is utilising the local coffee seeds from Kodagu, local acumen and manpower to build the brand,” he said. He said the work on first phase of the project will be completed by March—April next year. The plant will reach its full capacity production by end of 2011. The unit will generate about 500 - 600 direct job opportunities and equal number of indirect employment, he stated.
Earlier, Chief Minister B S Yeddyurappa said investments are flowing into 20 different sectors. Bangalore has got a small 6 per cent share in it while, 94 per cent of commitments are to be distributed across 30 districts. The north Karnataka will receive 70 per cent of the share. “We aim to end regional discrimination through the programme through this,” he stated.