Mumbai: French fruit beverages manufacturing company Georges Monin has doubled investment in its upcoming manufacturing plant in Telangana to Rs 200 crore.
"Despite the setback due to the Coronavirus pandemic, the French company has now doubled its investment for the plant, targeting completion by 2023," said a release issued by the company.
Monin had signed an MoU with the Department of Industries & Commerce, Government Of Telangana in 2018 and announced an initial investment of Rs 100 crore to set up a plant in India.
"With the increased investment of 200 crore, India remains a top-priority market for Monin," said Olivier Monin, chairman, Georges Monin.
The French business has since opened its wholly owned subsidiary in Hyderabad as Monin India Pvt Ltd and has acquired 40 acres of land for its manufacturing site.
It has also set up an in-house R&D centre in Hyderabad.