Coca-Cola has committed to injecting an additional investment of INR 647 crore to establish new lines at the Siddipet greenfield plant, with an expected completion date of December 2024.
The investment will be separate from the one made in the Hindustan Coca-Cola Beverages (HCCB) plant in Ameenpur.
Executives from Coca-Cola held a meeting with a Telangana delegation headed by the state’s Industries Minister, KT Rama Rao, in New York.
Moreover, there are plans to establish a second greenfield manufacturing facility of comparable scale in either the Karimnagar or Warangal region.
Upon establishment of this new facility, Coca-Cola’s total investments in manufacturing capacities will surpass INR 2500 crore.
James McGreevy, Vice President (PPGR) at Coca-Cola in New York, highlighted that India ranks as the third-largest market for Coca-Cola globally.
“Coca-Cola had significant plans to increase its presence and capacities in India.” As a part of this expansion, in 2020, HCCB invested INR 142 crore for the expansion of the Ameenpur plant,” said the VC.
Regarding the Siddipet plant, HCCB entered into a Memorandum of Understanding with the Government of Telangana on April 7, 2022, pledging an investment of INR 1000 crore.
“Bolstered by the support from the Telangana government and strong growth in the region, the company has decided to double its investments,” said officials.