February 4/Potchefstroom, South Africa/Africa Today -- Nestle plans to invest ZAR 505 million ($69.4 million) into the South African economy, the African Business Review reported.

Nestle South Africa plans to build two new factories and create 350 permanent jobs after recently acquiring a soya processing company in Potchefstroom, the portal said quoting company representatives. A new cereal factory will be built in Babelegi, Pretoria at a cost of ZAR 244 million. The group also plans to build a Maggi factory, producing noodles and other brand products, at a cost of ZAR 155 million. Nestle South Africa has invested ZAR 106 million in acquiring Potchestroom-based Specialised Protein Products. Nestle will reportedly create 350 jobs and upgrade facilities at the soy creamer processing plant.

From the February 7, 2011, Prepared Foods' Daily News
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