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Hyderabad: The world’s largest beverage manufacturer, the Coca-Cola company, has announced investing Rs 700 crore in a new manufacturing plant in Telangana’s Peddapalli district, through its subsidiary, Hindustan Coca-Cola Beverages Pvt Ltd (HCCB).
Head of Fiscal Policy Jonathan Rief and other executives told a visiting delegation at The Coca-Cola headquarters in Atlanta, United States, that the sites for the establishment had already been shortlisted, The Hindu reported.
The delegation comprised Industries and IT Minister D.Sridhar Babu, and R&B and Cinematography Minister Komatireddy Venkatreddy.
In an official statement, Mr Sridhar said, “The Coca-Cola leadership has confirmed the new plant will be established in the Peddapalli district. This decision marks a significant shift of new large-scale manufacturing capacities by MNCs into the hinterland of the State away from Hyderabad thereby leading to a more distributed industrial growth in line with the priority of the government.”
Earlier this year, the HCCB CEO Juan Pablo Rodriguez and other executives met CM Revanth Reddy and Sridhar Babu to discuss plans in Telangana, including a Rs 400 crore greenfield plant and the ministers had assured cooperation from the state government.
This post was last modified on June 8, 2024 6:42 pm