Nestle Lanka, a unit of Swiss-based Nestle has established a malted drink plant at a cost of Rs. 560 million at its manufacturing complex in Kurunegala.
Last year, Nestle Lanka invested 1.1 billion rupees in dairy development and expansion of the Kurunegala factory complex.
A senior Nestlé group official Pierre Schaufelberger said “Nestlé sees a lot of opportunity in Sri Lanka and believes in its potential,", in a statement and the company will double its investment to 2.0 billion this year, which will be part of a 10 billion rupee planned investment in the next few years.
He said that about one third of the money will go into dairy development and dairy based products.
He further said that Dairying is a tariff protected industry in Sri Lanka, and there are also price controls on the sale of milk powder.
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