KTR in US: Coca Cola to investment another Rs 647 cr in Telangana; investment to be double
As part of its expansion plans for India, the third largest market for its flagship product, Coca Cola, the company has decided to double its investment in Telangana
NEW YORK: As part of its expansion plans for India, the third largest market for its flagship product, Coca Cola, the company has decided to double its investment in Telangana.
Telangana delegation led by Industries Minister KT Rama Rao (KTR), met with James Mc Greevy, Vice President, PPGR of Coca-Cola in New York.
Mc Greevy said that India being the third largest market for Coca-Cola in the world, the company had significant plans to increase its presence and capacities in India.
As part of this expansion, Coca-Cola decided to double its investments in Telangana.
Coca-Cola has one large plant in Ameenpur, established by its fully-owned bottling company in India - Hindustan Coca Cola Beverages.
In 2020, HCCB invested Rs 142 crores for the expansion of the plant. A new green field plant is under construction in Siddipet district in Telangana for which HCCB had signed an MoU with the Government of Telangana on April 7, 2022 with a commitment to invest Rs 1,000 crores.
Bolstered by the support from Telangana government, quick execution of their plant under construction and strong growth in the region, HCCB committed an additional investment of Rs 647 crores to install new lines in the plant under construction. The plant is expected to be completed by December 2024.
A second green field manufacturing facility with a similar scale was being envisaged in the Karimnagar-Warangal region. With this new facility, the total investments of Coca-Cola in manufacturing capabilities would exceed Rs 2,500 crores.
This would be one of the fastest capacity expansions by Coca-Cola in recent times.