Hyderabad: Hindustan Coca-Cola Beverages (HCCB) on Thursday announced plans to set up a second manufacturing plant in the state with an investment of Rs 1,000 crore. The plant to bottle carbonated beverages, juices and drinking water will come up at the Food Processing Park at Bandathimmapur in Siddipet district.
The company announced in a statement that it would invest Rs 600 crore in the second plant in the first phase, and Rs 400 crore in the subsequent phases in the next five years.
HCCB signed a memorandum of understanding with the state government for a long-term strategic partnership in the presence of industries minister K.T. Rama Rao on Thursday.
Under the MoU, HCCB will help other industries in water resource management, better management of solid waste and build skills among youth. To begin with, the company will train 10,000 youth in partnership with Telangana Academy of Skills and Knowledge (TASK).
HCCB CEO Neeraj Garg, Chief Commercial Officer, bottling investment group, Juan Pablo Rodriguez Trovato and from the government side industries principal secretary Jayesh Ranjan were present.
This will be the second bottling plant for HCCB in Telangana, and is expected to double the company's manufacturing capacity to cater to the region for the next 10 years.
The state government has allotted 49 acres of land for the upcoming plant.
Rama Rao said the plant would employ a lot of personnel. He hailed the company's announcement that more than 50 per cent of the employees will be women. The company plans to commence operations by the end of 2023.
