Coca-Cola doubles investments in Telangana
Hyderabad: Coca-Cola has committed to an additional investment of Rs 647 crore to install new lines in the Siddipet greenfield plant, which is expected to be completed by December 2024.
The investment will be apart from the Hindustan Coca-Cola Beverages (HCCB) plant in Ameenpur.
Officials of Coca-Cola met a Telangana delegation led by the state’s industries minister KT Rama Rao in New York.
Furthermore, a second greenfield manufacturing facility with a similar scale is being envisaged in the Karimnagar or Warangal region.
With this new facility, the total investments of Coca-Cola in manufacturing capacities will exceed Rs 2500 crore.
Vice President (PPGR) of Coca-Cola in New York, James McGreevy mentioned that India is the 3rd largest market for Coca-Cola in the world.
“Coca-Cola had significant plans to increase its presence and capacities in India.” As a part of this expansion, in 2020, HCCB invested Rs 142 crore for the expansion of the Ameenpur plant,” said the VC.
For the Siddipet plant, HCCB signed an MoU with the Government of Telangana on April 7, 2022, with a commitment to invest Rs 1000 crore.
“Bolstered by the support from the Telangana government and strong growth in the region, the company has decided to double its investments,” said officials.
This post was last modified on August 26, 2023 3:04 pm