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Nepal's FMCG major CG Corp acquires manufacturing plant in Kazakhstan to make Wai Wai noodles

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.

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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 in a media statement.

 

Wai Wai occupies 28% of the instant noodle market share in India. And with annual sales of 2.2 billion packets, it occupies over 2% of the global noodle market.

 

According to G P Sah, global business head, CG Foods, the per capita noodles consumption is significantly higher in Central Asia compared to India. “As such, we expect to achieve significant volumes within a few months of the new plant being operational,” he said.

 

CG Foods set up a Wai Wai plant in Serbia in 2017 to cater to the European market. Wai Wai Noodles is part of the Nepal-based transnational conglomerate CG Corp Global. With a legacy of 140 years, CG Corp Global is present in over 30 countries and with 76 brands, 122 companies and an employee base of 10,000 people.

 

The group, from Nepal's first and only billion-dollar corporation owned by Binod Chaudhary, has interests in a diverse range of sectors including hospitality, banking and social entrepreneurship.

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