Nestlé gets funding for Brazilian expansion

Nestle Nordeste Alimentos e Bebidas, part of Nestle SA, has been granted a 95.4 million Reais ($51.8 million) loan to build a food processing plant and distribution centre in Brazil.

The loan, from Brazil’s National Social and Economic Development Bank (BNDES), represents just over 70% of the value of Nestle’s $72.6 million expansion project in Brazil’s Bahia state.

BNDES says Nestle will use the funds to build a food producing unit in the municipality of Feira de Santana. The loan will also help towards the construction of a distribution centre handling an estimated 70,000 tons of product per annum.

In other news, Nestle has inaugurated its infant formula plant in Araçatuba, also Brazil.