MARS Petcare to invest 500 crore to expand manufacturing facility in Hyderabad
MARS Petcare to invest 500 crore to exapnd manufacturing facility in Hyderabad
Hyderabad: Country’s leading pet food company MARS Petcare will invest Rs 500 crore to expand its Hyderabad pet-food factory. To this effect, it signed a memorandum of understanding with the Telangana Government on Thursday.
“The Government of Telangana believes in providing ease of doing business in our State. We have been proactive with providing approvals and facilitating investment through any support needed by industries. We would also like to have raw material sourcing agreements with the State for their expansion and are looking at a partnership between Telangana State and Mars Petcare for best business and social progress outcomes,” said Industries Minister KT Rama Rao.
The expansion will be considered for incentives under Mega Project category. The brownfield investment will augment capacity by almost 65 KT to meet the demand in India and also across Asia for dry pet food.
A second dry extruder line will be added and this investment will also facilitate the expansion of the packing line capacity, upgrade the utility system and the white space to support growth along with required extensions in utilities. The company will hire 180 to 200 people in different roles after training them. Out of this, a significant number of jobs will be given to women.
“We started our first manufacturing plant in Hyderabad in 2008. Our continuing efforts to educate pet parents and consumers about manufactured pet food have resulted in industry growth of 16 per cent in 2019 and more than 20 per cent in 2020. MARS Petcare retained a strong lead in the pet food market in both years. In 2021, we gained market share and outpaced the category growth that is expected to be 35 per cent to 40 per cent,” said MARS Petcare Managing Director Ganesh Ramani.
MARS Petcare will also contribute towards the welfare of villages in Siddipet district. In addition, it will help grow local businesses from where raw materials will be sourced. The project will be planned to be compliant with all MARS global standards and local regulatory requirements
“Our experience in working with the Government authorities in Telangana has been superlative. It is their support that has encouraged this brownfield investment. I would like to extend a heartfelt thanks for providing us with speedy approvals and substantial incentives,” he said about the role of Government.
Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.
Click to follow Telangana Today Facebook page and Twitter .
