American beverages major The Coca Cola company will be investing ₹700 crore, through a subsidiary, on a new manufacturing plant in Telangana.
The new plant will be established by wholly owned bottling arm Hindustan Coca Cola Beverages (HCCB) in Peddapalli district. The company has already shortlisted sites for the unit, Head of Fiscal Policy Jonathan Rief and other senior executives told a visiting delegation comprising Industries and IT Minister D.Sridhar Babu, R&B and Cinematography Minister Komatireddy Venkatreddy at The Coca Cola headquarters in Atlanta, United States.
Distributed growth
“In today’s meeting, the Coca Cola leadership confirmed the new plant will be established in 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” Mr. Sridhar Babu said.
The Minister’s office, in a release June 8, attributed the company’s decision to expand its footprint to the strong and continuing growth prospects of the region as well as conducive industrial ecosystem in Telangana. Special Chief Secretary-IT and Industries Jayesh Ranjan, Special Secretary and TSIIC vice chairman and managing director Vishnu Vardhan Reddy were part of the delegation.
HCCB CEO Juan Pablo Rodriguez and senior executives had met Chief Minister A. Revanth Reddy and Mr.Sridhar Babu earlier this year and discussed expansion plans in Telangana, including a Rs.700 crore greenfield plant. The Minister had assured cooperation from the State government by way of necessary infrastructure, utilities, permissions and skilled manpower for the upcoming unit. “Further, HCCB is all set to start commercial production out of their newly established ₹1,600 crore manufacturing facility near Hyderabad,” he had announced.
Ameenpur in Telangana hosts one of the largest plants of HCCB, a facility the company in 2020 expanded with a Rs.142 crore investment. In April 2022, the company had signed an MoU with the State government with a commitment to invest Rs.1,000 crore on a new greenfield plant in Siddipet.
