Nestlé Philippines has started the construction of a P2-billion MILO malt plant in Lipa, Batangas.
Jacques Reber, the company’s chairman and chief executive officer, said the impetus for the investment is the company’s strong confidence in the continued growth of the country’s economy, consistent with its long-term mission of nurturing generations of Filipino families and contributing to nation-building.
“The Philippines is a key market for us at Nestlé. For over a century, we have continually affirmed our confidence in, and commitment to the Philippines through our investments and expansion. Our P2 billion investment in the new MILO malt plant is another concrete demonstration of our commitment to the Philippines,” Reber said.
The announcement of the new MILO malt plant investment coincides with the celebration of the global Nestlé Group’s 150th anniversary this year.
Construction of the malt plant began in December 2015 and is expected to be completed in October 2017.
The plant will provide all the country’s Protomalt requirements for MILO, the country’s leading choco-malt milk drink that Filipino consumers have grown up with.
Protomalt, a Nestlé proprietary malt extract and a key nutritional ingredient of MILO, provides the product its characteristic taste and serves as a source of energy that helps fuel both body and mind activities.
At present, Protomalt for MILO manufactured in the Philippines is sourced from Singapore, where the Nestlé Group’s biggest malt plant is located.
Other Nestlé malt plants are located in Nigeria and Australia. In order to ensure quality, all Protomalt used by Nestlé is produced by the company itself in the three plants.