Mondelez and Lego to Invest $725 M In Mexico

U.S.-based Mondelez International and Denmark’s Lego plan to invest a total of $725 million in the northern state of Nuevo Leon, Mexican President Enrique Peña Nieto said. Mondelez International, one of the world’s largest food companies, was formerly known as Kraft Foods Inc.

Candy and snack foods giant Mondelez plans to pump $600 million into the state, while toymaker Lego will invest $125 million, the president said.

After touring the Lego plant the president remarked that the facility “is one of the most important projects” for Mondelez International.

Mondelez will build the world’s biggest cookie plant in the state, while Lego is expanding its existing operations, Peña Nieto said during an event Monday at the Interpuerto industrial park in Monterrey, the capital of Nuevo Leon.

The new plant will have five production lines and will start operating in mid-2014, Mondelez International executive vice president and president, Latin America Gustavo Abelenda said.

A hope of booming the economy, creating jobs and revenue to the city is predicted.

From Fox News Latino