Mondelez International lays cornerstone for 90 million dollars biscuit plant in Bahrain.
The world's leading snacks company Mondelez International had cornerstone ceremony of the construction for 90 million dollars biscuit plant in Bahrain. Cornerstone ceremony took place in the presence of Bahrain's Minister of Commerce & Industry Zayed R. Alzayani. The company announced the project in October 2014. Full commercial production is scheduled to start early next year.
The state-of-the-art facility will produce beloved company biscuit brands such as Oreo, Ritz and TUC in the initial two- to three-year phase.
"Demand for our biscuits in the Middle East and Africa has been growing at double-digit rates and investing in a state-of-the-art facility in Bahrain will enable us to capitalize on this," said Daniel Myers, Mondelez International Executive Vice President and added: "This new investment is part of our journey to reinvent our supply chain around the world to meet growth demands, while also reducing costs and improving productivity."
Mondelez International's supply-chain reinvention plan is expected to deliver $3 billion in gross productivity savings, $1.5 billion in net savings and $1 billion in incremental cash during 2014 to 2016.
The Government of Bahrain has reclaimed the necessary land for construction of the new plant, which will have a total capacity of nearly 90,000 tons per year. In the initial two- to three-year phase, the plant will operate four biscuit-manufacturing lines. Like other state-of-the-art Mondelez International plants, the facility is expandable and will help our global strategy of protecting our planet through the design of facilities that minimize our environmental footprint.
This is Mondelez International's second major investment in Bahrain. The world's leading snacks powerhouse has already invested more than $75 million in Bahrain.