HYDERABAD:
Fast moving consumer goods
giant Coca- Cola has uncorked plans for a third greenfield facility in Telangana at an investment of Rs 700 crore.
The facility, to be set up by the US major's wholly-owned subsidiary Hindustan
Coca-Cola
Beverages Pvt Ltd (HCCB), is slated to come up in Peddapalli district.
The announcement was made by Telangana industries & IT minister Duddilla Sridhar Babu's office after he met Coca-Cola's top team, including its head of
fiscal policy
Jonathan Reif, at its headquarters in Atlanta.
Sridhar Babu was accompanied by state roads and buildings minister Komatireddy Venkat Reddy. The IT minister is leading a delegation to 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 Dr Vishnu Reddy.
Firm zeroes in on sites in Peddapalli
The Coca Cola team confirmed it had already shortlisted sites in Peddapalli 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 line with the priority of the new govt," Sridhar Babu said in a statement.
The minister also urged the Coca Cola top brass to set up a Coca Cola technology global capability centre in Hyderabad as part of its IT drive.In March this year, a senior delegation from Coca Cola arm Hindustan Coca-Cola Beverages Private Limited (HCCB), led by its CEO Juan Pablo Rodriguez, had met CM A Revanth Reddy and discussed plans for a new facility.
In April 2022, HCCB had announced its second factory in Telangana, in Siddipet district, at an investment of ₹1,000 crore. Its first plant at Ameenpur is one of HCCB's largest.
English (US) ·