Swiss group Nestle announced on Monday that it will invest 40 million Swiss francs ($42.88 million) in a new production facility in western Ukraine, Reuters and Agerpres reported.

Nestle is one of the few international companies that announced new investments in Ukraine after Russia invaded the country in February 2022.

“This is an important decision for Nestlé, made at a very difficult time for the country. The goal is to create a food and culinary hub, provide jobs and provide consumers in Ukraine and all of Europe with high-quality products,” said Alessandro Zanelli, Nestlé’s general manager in Southeast Europe.

The Russian invasion significantly affected the economy of Ukraine, which this year, according to IMF forecasts, will fall by 35%.

The government in Kyiv announced on November 23 that it had reached a preliminary agreement with the International Monetary Fund, paving the way for billions of dollars in support.

Nestle, which already has about 5,800 employees in Ukraine, plans to hire another 1,500 people at a new enterprise in the city of Smoligiv, Volyn region.

The new workshop, which will supply both Ukraine and Europe, will produce cold sauces, spices, soups and quick meals.

Nestle announced its withdrawal from Russia on March 9 in protest against the war of aggression launched by Vladimir Putin.

The world’s largest packaged food group has decided to follow the example of competitors Procter & Gamble and Unilever. But Nestle later came under fire after it failed to sell its business in the country led by Vladimir Putin like other Western companies.

Follow the latest events of the 292nd day of the war in Ukraine LIVETEXT on HOTNEWS.RO.