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UAE is 2nd largest market in sales after KSA - Nestlé

UAE is 2nd largest market in sales after KSA - Nestlé
The new plant will produce Maggie and Nescafe products

Abu Dhabi – Mubasher: The UAE is considered the second largest market for Nestlé Middle East, right after Saudi Arabia, whose contribution to the company’s Middle East unit represents around 30%, Al Khaleej newspaper reported on Sunday, citing Nestlé Middle East’s CEO and chairman Yves Manghardt as saying.

Regarding the opening of new plants in the UAE, the CEO said that his company recently opened its AED 530 million ($144.32 million) Nestlé Al Maha factory in Dubai South.

The new plant will produce Maggie and Nescafe products and will employ up to 340 employees, the top official revealed, highlighting that this project will boost both local production and investment.

This factory is company’s third in Dubai and eighteenth across the Middle East, he added.

Nestlé’s other plants in the UAE include one for KitKat and Nido milk products and another for water.

Earlier in May, Nestlé Waters announced signing a deal with the UAE Higher Corporation for Specialized Economic Zones (ZonesCorp) to build an AED 100 million ($27.2 million) water factory in Abu Dhabi.

Construction of the new Abu Dhabi plant will begin in 2017, while production is set to begin in 2018, Manghardt revealed.

The top executive told the newspaper that his company’s operations have been affected by the ongoing security and economic unrest in the region, resulting in slower growth over the past few years.

Despite that, Manghardt stated that Nestlé Middle East was “committed” to the region on the long term as it has been for the past 80 years.