Nepal's CG Corp buys Wai Wai plant in Kazakhstan
Kathmandu: CG Foods, a fast moving consumer goods (FMCG) company in Nepal, has acquired a manufacturing plant in Kazakhstan that will produce its flagship product, Wai Wai Noodles, for Central Asian markets. CG Corp invested approximately $15 million dollars in the new plant. With the new plant in Kazakhstan, the total number of Wai Wai plants now stands at 18, nine of which are based in India.
Nirvana Chaudhary, managing director, CG Foods, said, the newest Wai Wai plant will help make the signature instant noodles available in various cities and countries across Central Asia. "We see Central Asia as a market that's open to innovation in taste and Wai Wai has always been an innovator. We are confident of winning over the taste buds of people across Central Asia," he said.
Wai Wai occupies 28 per cent of the instant noodle market share in India. And with annual sales of 2.2 billion packets, it occupies over 2 per cent of the global noodle
market. CG Foods set up a Wai Wai plant in Serbia in 2017 to cater to the European