Coca Cola to invest Rs 700 crore on third facility in TG
Hyderabad: Fast moving consumer goods giant Coca Cola has announced plans to set up its third greenfield facility in Telangana with an investment of Rs 700 crore.
An announcement to this extent was made during a meeting its top brass had with industries minister D. Sridhar Babu and R&B minister Komatireddy Venkat Reddy in the US on Saturday. The new facility to be set up by the American giant’s wholly-owned subsidiary Hindustan Coca Cola Beverages Pvt Ltd (HCCB) will come up in Peddapalli district. The Telangana delegation met the senior leadership team of Coca Cola, including its head of fiscal policy Jonathan Reif, at their headquarters in Atlanta.
The Coca Cola leadership evinced interest in setting up a new facility in Peddapalli district where they had already shortlisted sites for the unit. "This decision marks a significant shift of new large-scale manufacturing capacities by multinational companies into the hinterland of the state, away from Hyderabad, thereby leading to a more distributed industrial growth in the state, which is in line with the priorities of our government," Sridhar Babu said in a media statement.
The Telangana delegation sought establishment of a Coca Cola technology global capability centre in Hyderabad. The delegation in is the US as part of efforts to pitch Telangana as a global investment destination.
The delegation includes IT & industries special chief secretary Jayesh Ranjan, TSIIC vice chairman & managing director and special secretary Dr E. Vishnu Vardhan Reddy.
It may be recalled that in March, a senior delegation of HCCB, led by its CEO Juan Pablo Rodriguez, met Chief Minister A. Revanth Reddy in Hyderabad and discussed plans for setting up a new facility in Telangana. Earlier in April 2022, HCCB had announced its second factory in the state on 49 acres at Banda Thimmapur food processing park in Siddipet district at an investment of Rs 1,000 crore. Coca Cola's first plant at Ameenpur is one of HCCB’s largest facilities.