Nestle will invest $120m in constructing a facility for coffee production in Russia, the marketing director of the Moscow branch of Nestle told journalists today. He specified that the construction of the facility would start near the coffee packing facility in Timoshevsk, the Krasnodar region, in spring 2004. The construction will take from 12 to 18 months. After the facility is put into operation, some 99 percent of coffee sold in Russia will be of domestic production.
The company's total volume of investments in Russia has amounted to $250m since 1995. At present, Nestle owns 11 enterprises in Russia.