Mexican corn miller and tortilla producer Gruma has announced plans to invest $50m in a new plant in Russia, over the next two years.
Located in the Moscow Region, the new plant will be capable of producing around 31,500 tonnes of corn and wheat products including wheat tortilla wraps, tortilla and tortilla chips annually.
The plant is expected to become operational by the end of 2015, and will employ 250 people.
Gruma has been operating in Russia since 2011 and has witnessed 15% annual growth in its business in the region.
The company currently has eight plants across Europe, besides operations in the US, Mexico, Central America, Asia, and Oceania.
Earlier this month, Gruma divested its wheat flour milling operations in Mexico to Grupo Trimex for $260m.
According to the company, the sale proceeds will be used mainly for debt repayment, a move that will strengthen the company's balance sheet.
Image: The new plant will produce wheat tortilla wraps , tortilla and tortilla chips. Photo: courtesy of Serge Bertasius Photography / FreeDigitalPhotos.net.
