In line with its investment plans of $5 billion in India by 2020, beverage major Coca Cola on Thursday inaugurated its 58th plant in the country, on which its franchise bottler partner has invested over Rs 135 crore.
The plant, which is owned by Brindavan Agro Industries, will provide employment to 225 people and cater to nine districts of Western Uttar Pradesh and some parts of Madhya Pradesh.
The inauguration of the new plant coincides with the completion of Coca Cola's twenty years in India. On October 24, 1993, Coca Cola India began operations in Agra.
Commenting on the development, the Coca Cola Company senior VP and chief technical officer Guy Wollaert said the new plant will not only catalyse economic growth, but will also contribute to the development of local community.
"This new plant reflects our belief in India as a strategic growth market with immense potential," he added.
The new plant has two bottling lines--a sparkling PET line and a sparkling glass bottle line. Both the lines have the capacity to produce 600 bottles each per minute.
Last year, the Atlanta-based firm had announced an investment of $5 billion in India by 2020. The company has already invested around $2 billion in the country between 1993 and 2011.
"Our investments in India are on track as we build scale, manufacturing capacity, distribution capability and a robust portfolio to realise our business goals in India," Coca cola India and South West Asia Deputy Business Unit President Venkatesh Kini said.
The investments in the country are being made to increase bottling lines, adding new bottling plants, enhancing back-end chain infrastructure as well as marketing by the company, he added.
Commenting on the inauguration of the greenfield plant, Brindavan Agro Industries Managing Director and Chairman Gulab Chand Ladhani said the "investment reflects our strong alignment with the Coca Cola Company in India and a re-affirmation of our commitment towards achieving the company's vision 2020 targets".
Coca Cola sells a variety of both carbonated and non-carbonated drinks in India, including Coca Cola, Thums Up, Sprite, Maaza and Minute Maid.