The revised budget reflects added infrastructure, including a gas pipeline, power plant, and fertilizer blending unit, as Ethiopia pushes to cut fertilizer imports.
The company will invest more than US$25 million in Vietnam and Malaysia as it raises flour production capacity and improves plant operations.
The company says the new products will help households, bakers, and small food businesses manage cost while maintaining quality.
Ingredion has proposed a £2.74 billion takeover of Tate & Lyle, aiming to expand its global food ingredient solutions and specialty product portfolio.
The groundbreaking ceremony marks the start of a new production hall that will significantly increase output capacity at the Belgian site, which already serves as the company’s primary Biscoff manufacturing hub for Europe.