Swiss firm Nestle is close to reaching a deal with Cuba on forming a new joint venture to build a $50-million to $60-million factory to produce coffee, biscuits and cooking products, company Vice President Laurent Freixe said on Wednesday in Havana.

Freixe, head of Nestle’s Americas division, was visiting the Communist-ruled island to negotiate the new investment in the Mariel special development zone west of Havana as well as to renew for another 20 years an existing joint venture producing ice cream.



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