CG Foods, one of the fastest growing 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.
Positioned strategically to service key markets in Kazakhstan, the largest economy in Central Asia, 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 market that’s open to innovation in taste, and Wai Wai has always been an innovator,” said Nirvana Chaudhary, Managing Director of CG Foods. “We are confident of winning over the taste buds of people across Central Asia.”
With the new plant in Kazakhstan, the total number of Wai Wai plants now stands at 18, nine of which are based in India.
“The per capita noodles consumption is significantly higher in Central Asia compared to India,” said G.P. Sah, Global Business Head of CG Foods. “As such, we expect to achieve significant volumes within [a] few months of the new plant being operational.”
CG Corp invested approx. US$ 15 million dollars in the new plant.
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, which has interests in a diverse range of sectors — including hospitality, banking and social entrepreneurship. Spearheaded by the visionary billionaire Binod Chaudhary, CG Corp has popularized Wai Wai Noodles in the Indian sub-continent through the most unconventional marketing channels. Winning hands down in the arena of taste and innovation, Wai Wai was first popularized by the youth who adapted to its taste instantly.
Wai Wai occupies twenty eight percent of the instant noodle market share in India. With an annual sale of 2.2 billion packets, it occupies over two percent of the global noodle market.