Nestle opens Tk 150cr infant formula plant
Nestle Bangladesh yesterday started processing, filling and packaging the company's infant formula at its Tk 150 crore factory in Sreepur, Gazipur.
The state-of-the-art plant with an annual production capacity of 6,000 tonnes will create around 1,000 direct and indirect jobs.
At the primary stage, Lactogen 2 and Lactogen 3 will be processed there. Later, Lactogen 1 and Nano would be processed.
Some 34 factories in the world have this kind of plant and Nestle Bangladesh joins this league with this plant.
Industries Minister Nurul Majid Mahmud Humayun inaugurated the plant through an online programme where Md Sirazul Islam, executive chairman of Bangladesh Investment Development Authority (BIDA), was also present.
Nestle Bangladesh kept its commitment of establishing the plant in the country, the minister said.
"I had a discussion with the Nestle leadership in Switzerland about the world-class factory."
Bangladesh is the fastest growing economy and investing here is profitable, the BIDA chairman said.
"Now, entrepreneurs can get relevant approval easily online. So, I request all to invest in Bangladesh."
Around 10,000 tonnes of infant formula is sold in Bangladesh every year and Nestle holds 55 to 60 per cent of the market share with its two brands Lactogen and Nan.
The company has been selling its products in Bangladesh for more than 26 years.
"Driven by purpose and touching the lives of millions by addressing their daily nutritional needs, we take pride in bringing nutritionally superior products to people of Bangladesh with the highest standards of safety and quality in our world-class facility at Sreepur factory," said Deepal Abeywickrema, managing director of Nestle Bangladesh.
"Our products supply and price would be sustainable, so people will not face any issues suddenly when the international market price changes," said Naquib Khan, corporate affairs director of Nestle Bangladesh.
"On the other hand, our foreign currency will also get comfort for the value to be added here."
Suresh Narayanan, market head of Nestlé for South Asia region, and Arshad Chaudhry, nutrition business head of Nestlé for Asia, Oceania and Africa, also spoke at the event.