INDIA – In a strategic move aimed at bolstering its manufacturing capabilities in India, global soft drink giant Coca-Cola has announced a massive investment of Rs 1,387 crore (US$15.87 billion) for a state-of-the-art manufacturing facility in Maharashtra’s Ratnagiri district, India.
This significant development marks a major leap for the company in expanding its production capacity and establishing a strong footprint in the region.
The new greenfield facility, spanning over 88 acres in the Lote Parshuram Industrial area, is set to be operational by 2025. Utilizing water from the Vashishthi River, the facility is poised to become a cornerstone in Coca-Cola’s production network.
The unit is expected to generate direct and indirect employment for 350 individuals, with a broader positive impact on the community. According to Hindustan Coca-Cola Beverages, a total of 81,000 people in the state will benefit from the company’s community initiatives.
These initiatives encompass diverse areas such as educational infrastructure, water ATMs, sustainable agriculture, and community engagement centres. Notably, 10,000 people from the Lote Parshuram area are expected to directly benefit from these interventions.
A groundbreaking ceremony for the new manufacturing plant was held recently, with the presence of prominent figures including the Chief Minister of Maharashtra, Eknath Shinde, and HCCB Chief Executive Juan Pablo Rodriguez.
Rodriguez emphasized the fertility of the land in Maharashtra, symbolizing the planting of seeds for both economic growth and community partnership.
In response, Chief Minister Shinde expressed his appreciation for Coca-Cola’s decision to invest in the state, highlighting the government’s commitment to making Maharashtra a beacon of sustainable and equitable growth.
This collaboration between the government and the private sector is a testament to the potential for fostering economic development hand in hand with social responsibility.
Coca-Cola, with its 16 factories producing 60 different products across the country, already has a significant presence in India, operating in 22 states.
This latest investment underscores the company’s confidence in the Indian market and its dedication to contributing positively to the local economy and communities. As the facility gears up for operations in 2025, it is poised to be a key player in Coca-Cola’s continued growth trajectory in the country.
The investment comes just a week after the beverage giant announced its intention to enter into the ready-to-drink tea beverages segment with the launch of ‘Honest Tea’.
According to the company, the organic green tea will be sourced from Kolkata-based Luxmi Tea Co Private Ltd’s Makaibari Tea Estate.
An MoU in this regard was signed between the two companies at the seventh edition of the Bengal Global Business Summit (BGBS). The idea behind the launch was to provide consumers with wider beverage options.