Coca-Cola has announced plans for an additional Rs 647 crore investment to install new production lines at the Siddipet greenfield project, with a target completion date of December 2024.
This investment complements the Hindustan Coca-Cola Beverages (HCCB) factory in Ameenpur. During a conference in New York, Coca-Cola executives met with a group from Telangana led by the state’s industries minister, KT Rama Rao.
In addition, discussions are underway to develop a second greenfield manufacturing site of comparable scale in either the Karimnagar or Warangal regions.Coca-Cola’s cumulative investments in improving manufacturing capacity will reach Rs 2500 crore.
Coca-Cola’s Vice President (PPGR) in New York, James McGreevy, stressed India’s significance as the company’s third-largest market globally. “Coca-Cola has substantial plans to expand its presence and capacities in India,” McGreevy remarked. HCCB invested Rs 142 crore in 2020 for the expansion of the Ameenpur facility as part of this development program.
HCCB earlier signed a Memorandum of Understanding (MoU) with the Government of Telangana on April 7, 2022, agreeing to an investment of Rs 1000 crore for the Siddipet project. According to officials, the corporation has opted to increase its investments due to the region’s robust growth and the supporting climate given by the Telangana government.
(This story is sourced from a third-party syndicated feed. Raavi Media takes no responsibility or liability of any nature. Raavi Media management/ythisnews.com can alter or delete the content without notice for any reason.)
