Nestle to establish $507 million pet food plant in Italy

Nestle in Italy: Swiss food giant Nestle is set to inaugurate a new pet food manufacturing facility in northern Italy, marking a significant investment of €472 million ($507.92 million), as announced by Italy's Industry Minister Adolfo Urso on Wednesday.

The plant, to be situated in Mantua approximately 160 km (100 miles) southeast of Milan, is slated for completion by 2027, according to a statement from Urso's ministry. It is anticipated that the new facility will provide employment opportunities for around 300 individuals.

Urso expressed satisfaction with Nestle's commitment to boost its presence in Italy, highlighting the country's growing importance as a destination for major global corporations' manufacturing operations. Following a meeting with Marco Travaglia, CEO of Nestle Italy, Urso remarked on the company's decision as affirming Italy's central position in the production networks of multinational enterprises.

Travaglia echoed similar sentiments, highlighting Italy's strategic role for Nestle within the rapidly evolving pet food sector. He noted that the establishment of the new factory, which will also include a logistics hub, reflects Nestle's recognition of Italy's pivotal role in its expansion plans.

The investment underlines Nestle's confidence in Italy's business environment and its commitment to contributing to the country's economic growth and employment opportunities. 

(With Reuters inputs)