The investment project of Nestlé Russia is indicated as a priority investment project in Vologda Oblast.
This decision was reached at a meeting of the Governor’s Investment Council.
Foreign companies like Nestlé have come to the region due to its convenient geographical location and local workforce. Nestlé bought Vologda baby food factory in 2003. The Vologda factory, Nestlé’s tenth facility in Russia, became the company's first one to produce baby cereals. Nestlé currently owns a production facility in the city of Vologda and constantly invests in the factory to provide new tastes and products for its local consumers.
The consolidation of baby food and cereals business in Vologda allowed managing the Russian business more effectively and optimizing the operating costs. Vologda's plant is a key Nestlé factory for the production of baby food and instant hot cereals supplied not only to Russia, but to other CIS countries.
Now Nestlé is planning to expand production facilities in Vologda and to construct a new cereals line. Vologda's baby food factory will provide local citizens with 95 extra workplaces. The investments will total 1,4 bln rbl. A payback period is expected to last less than 7 years. As soon as this investment projects is indicated as a priority one, the Vologda branch of Nestlé Russia will be exempted from the property tax for two years.
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