Coca Cola to double its investments in Telangana
Top officials of Coca Cola, who met a Telangana delegation led by Industries Minister KT Rama Rao in New York, said
Hyderabad:The number of global firms announcing new plans or major expansions in Telangana is rising, with the latest in the list being beverage major Coca-Cola, which has decided to double its investments in Telangana.
The enhancement of investments will be apart from the Hindustan Coca-Cola Beverages (HCCB) plant in Ameenpur and will include the greenfield plant that is under construction in Siddipet district.
The announcement came from top officials of Coca-Cola, who met a Telangana delegation led by Industries Minister KT Rama Rao in New York. They said HCCB has committed an additional investment of Rs.647 crore to install new lines in the Siddipet plant, which is expected to be completed by December 2024.
Further, a second greenfield manufacturing facility with a similar scale is being envisaged in the Karimnagar/Warangal region. With this new facility, the total investments of Coca-Cola in manufacturing capacities here will exceed Rs.2,500 crore. This is one of fastest capacity expansions by Coca-Cola in recent times, according to an official statement.
The Telangana delegation met with James McGreevy, Vice President (PPGR) of Coca-Cola in New York, who mentioned that India being the third largest market for Coca-Cola in the world, the company had significant plans to increase their presence and capacities in India.
As part of this expansion, in 2020, HCCB had invested Rs.142 crore for the expansion of the Ameenpur plant. For the Siddipet plant, HCCB had signed a Memorandum of Understanding with the Government of Telangana on April 7, 2022 with a commitment to invest a sum of Rs.1,000 crore.
Bolstered by the support from the Telangana government, quick execution of their plant under construction and strong growth in the region, the company has decided to double its investments, officials said.
