Telangana: Coca-Cola to invest Rs 700 crore in new Peddapalli plant

Hyderabad: Coca-Cola, the world’s largest beverage maker, has announced an investment of Rs 700 crore in a new manufacturing plant in Peddapalli district of Telangana through its subsidiary Hindustan Coca-Cola Beverages Private Limited (HCCB). Fiscal policy chief Jonathan Reif and other officials told a visiting delegation at the Coca-Cola headquarters in Atlanta, United States, that sites for setting up have already been shortlisted, The Hindu reported.
The delegation included Minister for Industries and IT D. Sridhar Babu and Minister for R&B and Cinematography Komatireddy Venkatareddy. In an official statement, Mr. Sridhar said, “The Coca-Cola leadership has confirmed that the new plant will be set up in Peddapalli district. This decision reflects a significant shift by multinational companies to new large-scale manufacturing capacities away from Hyderabad in the hinterland of the State, in line with the government’s priority to have more distributed industrial development.” Earlier this year, HCCB CEO Juan Pablo Rodriguez and other officials had met chief ministers Revanth Reddy and Sridhar Babu to discuss plans, including a Rs 400-crore greenfield plant in Telangana, and the ministers had assured support from the state government.