Nestlé to invest EGP 1 bn over coming five years

This comes as Nestlé Egypt will be allocating EGP 1 bn in investments over the next five years to increasing output across the board, Al Borsa reported. In addition to expanding its range of products for infants, Nestlé — fresh of its EGP 400-500 mn bid to acquire Caravan Marketing Company — is also looking to grow its exports during the year to combat the effects of the devaluation, which are likely to prompt a second hike in product prices soon, CEO Yasser Abd El Malek says.