Nestlé is to invest $7 million in Mexico. The company plans to modernise the 17 factories it owns in the country with new technology to increase productivity, improve processes, expand productive capacity and ensure the responsible management of natural resources.

According to Nestlé, the investment will generate more than 400 direct and 4,000 indirect jobs in the country in the coming years.

The funding includes the $200m announced in November last year to finalise the first phase of construction of the company’s new coffee factory in Veracruz, which will process 20,000 tonnes of coffee per year from Mexican coffee growers. The plant is expected to start operations in the last quarter of 2020.

Nestlé will continue to focus on scientific research to develop healthy products for Mexican consumers. Meanwhile, the company’s innovation platform recently invested in Mexico-based venture capital firm, Angel Ventures, in order to boost the growth of food, beverage and pet care startups in Latin America.

In addition, via the Nestlé Institute of Packaging Sciences, Nestlé will launch a global sustainable packaging investment fund of CHF250m ($258m) to invest in startups focused on this area – investment that, according to the company, will benefit the Mexican market.