Nellore: Coca-Cola entered into a pact with Iffco's Kisan SEZ to establish fruit based non-alcoholic beverages unit at Kisan SEZ at Racharlapadu in Kodavalur mandal, 25 km from Nellore. Officials of Iffco claim that the project is biggest one in Asia.
The multinational would invest Rs 600 crore on the project and it is the first major unit in the Kisan SEZ which has been facing the heat from the state government for not utilising the 2,777 acres of land allotted nearly two decades back.
Iffco had acquired the land in Kodavalur mandal in 1996 for starting the gas-based urea manufacturing plant by paying Rs 3 crore compensation to the farmers. Thereafter, the management has changed the project's title as IFFCO Kisan Special Economic Zone, citing various problems to start the urea plant. At the instance of state government, district administration shot a letter to the SEZ to take back the land last year.
In this backdrop the Coca-Cola unit is a blessing in disguise for Iffco to stall the state government moves. Coca-Cola would setup 5 beverages units in the 150 acres of land allotted for them in the SEZ and the capacity is 570 bottles per minute from each unit. The project would provide direct employment for 250 to 300 persons and indirect employment for many more.
Kisan SEZ also provided 7,000 sq.ft office space in the administrative building of the SEZ to enable them to carryout the initial operations till they construct their own office building. Sources in the SEZ said that a UK based steel tycoon is also holding discussions with them to setup their industry to produce automotive steel for export. An investment of nearly Rs 5,000 crore to Rs 6000 crore will flow into the state if the talks are materilised.
