Mars Inc announces Rs. 800 crore investment in Telangana
The latest announcement takes the total fixed capital investment of Mars Inc in the State from Rs.200 crore to Rs.1,500 crore.
Hyderabad: Global pet food major Mars Inc has announced an investment of Rs.800 crore to commence its Phase-II expansion in Telangana. Mars Petcare has a plant with fixed capital investment of Rs.200 crore in Siddipet district where they manufacture pet food under well-known brands such as Pedigree and Whiskers.
The latest announcement takes the total fixed capital investment of Mars Inc in the State from Rs.200 crore to Rs.1,500 crore. This is after Mars Petcare had signed a MoU on December 17, 2021 with the Telangana government for expansion of their manufacturing plant in Telangana with an additional investment of Rs.500 crore.
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Industries Minister KT Rama Rao met with Sekhar Krishnamoorthy, Chief Data and Analytics Officer for Pet Nutrition at Mars Inc in New York on Friday. Given the rapid growth in the pet food market in India, Mars expressed interest to commence phase-II expansion of their plant in Siddipet, according to an official statement.
During the meeting, the State government and Mars Inc agreed to get into a broad base partnership to establish initiatives for improving pet care and pet nutrition in the country. Possibilities for creation of a comprehensive base for Mars Inc in R&D, digital transformation, agri supply chains, innovation and sustainability areas were also discussed.
