Nestle India Gets IPICOL Approval to Establish Food Processing Unit in Odisha, Shares Rise

17 Jul 2023 , 11:32 AM

Nestle India, a leading food and beverage company, witnessed a rise in its share price after receiving approval to set up a food processing unit in Odisha. 

On July 14, Nestle India received a letter from The Industrial Promotion & Investment Corporation of Odisha Limited (IPICOL) regarding the approval of its proposal. The State Level Single Window Clearance Authority (SLSWCA), in a meeting held on July 10, 2023, granted ‘in principle’ approval to Nestle India for establishing a food processing unit.

The approved location for the food processing unit is Mundaamba, Block – Jankia in the district of Khordha, Odisha. Nestle India plans to invest Rs 894.10 crore in setting up this facility, highlighting the company’s commitment to expanding its manufacturing capabilities.

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