- June 8, 2024
Coca Cola uncorks plans for investing Rs 700 crore in third greenfield plant in Telangana – Times of India
HYDERABAD: Fast moving consumer goods giant Coca Cola has uncorked plans for its third greenfield facility in Telangana at an investment of Rs 700 crore.
The proposed facility, to be set up by the American giant’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, along with Telangana roads & buildings and cinematography minister Komatireddy Venkatreddy, met the senior leadership team of Coca Cola, including its head of fiscal policy Jonathan Reif.at its headquarters in Atlanta.
During the meeting, the Coca Cola leadership confirmed that they will be setting up the new facility in Peddapalli district, where they have 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, in line with the priority of the new government,” the industries minister 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 their IT strategy.
Sridhar Babu is heading a delegation to the US as part of efforts to pitch Telangana as a global investment destination. The delegation includes Telangana IT & industries special chief secretary Jayesh Ranjan, TSIIC vice chairman & managing director and special secretary Dr Vishnu Reddy.
In March this year, a senior delegation of HCCB, led by its CEO Juan Pablo Rodriguez, had met Telangana chief minister A Revanth Reddy and discussed plans for setting up a new facility in the state.
In April 2022, HCCB had announced its second factory in the state at a 49-acre parcel of land at Bandathimmapur food processing park in Siddpet district at an investment of Rs 1000 crore. Its first plant at Ameenpur in Telangana is one of HCCB’s largest.
The proposed facility, to be set up by the American giant’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, along with Telangana roads & buildings and cinematography minister Komatireddy Venkatreddy, met the senior leadership team of Coca Cola, including its head of fiscal policy Jonathan Reif.at its headquarters in Atlanta.
During the meeting, the Coca Cola leadership confirmed that they will be setting up the new facility in Peddapalli district, where they have 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, in line with the priority of the new government,” the industries minister 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 their IT strategy.
Sridhar Babu is heading a delegation to the US as part of efforts to pitch Telangana as a global investment destination. The delegation includes Telangana IT & industries special chief secretary Jayesh Ranjan, TSIIC vice chairman & managing director and special secretary Dr Vishnu Reddy.
In March this year, a senior delegation of HCCB, led by its CEO Juan Pablo Rodriguez, had met Telangana chief minister A Revanth Reddy and discussed plans for setting up a new facility in the state.
In April 2022, HCCB had announced its second factory in the state at a 49-acre parcel of land at Bandathimmapur food processing park in Siddpet district at an investment of Rs 1000 crore. Its first plant at Ameenpur in Telangana is one of HCCB’s largest.
