HYDERABAD: Global beverage giant Coca-Cola on Saturday announced its plans to invest an additional Rs 647 crore in the greenfield plant which is under construction at Banda Thimmapur in Siddipet district. This came after James McGreevy, vice president of public policy, government and regulatory affairs at Coca-Cola, met a delegation from Telangana, led by IT & Industries Minister KT Rama Rao, in New York. McGreevy highlighted that India was Coca-Cola’s third-largest global market and said the company has extensive plans in the country.
Presently, the company operates a substantial manufacturing facility in Ameenpur through its fully-owned bottling arm, Hindustan Coca-Cola Beverages (HCCB). In 2020, it invested Rs 142 crore for the Ameenpur plant. Building on this, the HCCB signed a Memorandum of Understanding (MoU) with the Telangana government on April 7, 2022, to build a new greenfield facility at Banda Thimmapur with a Rs 1,000 crore investment.
A release from the government said that the HCCB has decided to infuse an additional investment of Rs 647 crore to introduce new production lines in the ongoing construction due to the unwavering support from the Telangana government, streamlined project execution and robust regional growth.
Anticipated for completion by December 2024, this state-of-the-art facility is set to significantly bolster Coca-Cola is also planning a second greenfield manufacturing facility in the Karimnagar/Warangal region. This expansion will propel the company’s cumulative investments in manufacturing capacities to surpass Rs 2,500 crore, the release added.