By Nethra Sailesh
Hindustan Coca-Cola Beverages is all set to build a manufacturing facility in Telangana’s Siddipet district. According to Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka, this plant will have an investment of Rs 2,398 crore and is set to create around 600 jobs in the area. Additionally, he mentioned that the plant will benefit local fruit farmers as it will boost the demand for oranges and mangoes.
Alongside this announcement, the deputy CM also announced that the state’s Industrial Promotion Cabinet Sub-Committee has approved investments of Rs 3,745 crore from JSW UAV Limited and Toshiba Transmillin and Distribution Systems as well. He stated that multinational companies are making large investments in the state, having a snowball effect on generating employment and also incentivizing farmers to cultivate more fruits.
“The aggregate investments by the three companies would be ₹3,745. They are expected to create over 1,500 new jobs. The establishment of companies like Coca-Cola would provide large-scale support to mango and orange farmers in the State,” he said.
JSW UAV Limited, the subsidiary of JSW Defense, had announced in January this year that it would set up its drone manufacturing facility in Maheshwaram with an investment of Rs 785 crore. The plant is expected to generate 364 jobs. The manufacturing facility will run in partnership with a US tech company called Shield AI.
In April this year, Toshiba Transmission and Distribution Systems announced that it will launch a new plant for Gas Insulated Switchgear and Bushings with an investment of Rs 562 crore, creating 554 employment opportunities.
For Coca-Cola, this isn’t the first large investment the multinational has made this week. Three of Coca-Cola’s bottlers (aka their bottling partners) are going to jointly invest Rs 25,760 crore in India’s food processing industry. SLMG beverages, Hindustan Coco-Cola beverages and Kandhari Group of companies have signed an MoU with the Ministry of Food Processing Industries. The implementation of the projects will be completed only by 2030 and will create over 330,000 direct and indirect employment opportunities.