Invest News DetailHurriyet Daily News - Haberturk - Switzerland’s global health, nutrition and wellness brand Nestlé, which has been active in Turkey for more than a century, announced on Thursday that it will open a factory in Karacabey in the northeastern province of Bursa to produce breakfast cereals. The investment will cost TRY 85 million (approx. USD 55 million), creating 160 jobs in the first phase. "Turkey is a good location to export goods to the Middle East and North Africa,” said Hans-Ulrich Mayer, Nestlé Turkey’s Executive Board Chairman, during an Istanbul meeting to present the new investment, realized with the assistance of the Investment Support and Promotion Agency of Turkey (ISPAT). The company made a choice among Turkey, Russia and Poland for the location of the facility, he said. Turkey’s Industry and Trade Minister Nihat Ergun said Nestlé showed its confidence in economic stability in Turkey. “Nestlé has chosen Turkey as a production base for the Middle Eastern and North African markets. I believe the company will feel the need to expand this investment or make a new one in a few years,” said Ergun. Speaking at the press meeting, ISPAT President Ilker Ayci said the Nestlé factory will transfer new production technologies to Turkey and contribute to the country’s exports. “Nestlé’s investment will turn Turkey to an exporter of this product,” said Ayci, adding that Nestlé will do all the procurement necessary for production from local sources.