Monde Nissin earmarks P7.2 B for capex to boost capacity

As the company expands, Teo said Monde Nissin is also taking the opportunity to diversify its supply base.

- RICHMOND MERCURIO

Snack food giant Monde Nissin Corp. is nearly doubling its capital spending this year to beef up its capacity.

Monde Nissin chief financial officer Jesse Teo said the company has allocated P7.21 billion for capital expenditures this year, significantly higher than last year’s P3.64 billion.

Of the amount, Teo said P6.2 billion will be dedicated to its Asia-Pacific branded food and beverage (APAC BFB) business.

“I mentioned about a a long term lease that we entered into in the Philippines in Pampanga. That itself is almost a billion right of use assets that we will be booking. That forms a major part,” Teo said.