Coca Cola to invest Rs 600 cr in bottling plant in Dehradun
Hindustan Coca Cola Beverages Pvt Ltd, a subsidiary of Coca Cola India Pvt Ltd signed a memorandum of understanding (MoU) with Uttarakhand state officials today to invest Rs 600 crore in a bottling plant in Dehradun district, reportsbusiness Updated: Apr 17, 2013 20:41 IST
Giving a 'boost' to industrial growth in Uttarakhand, beverages giant Coca Cola has decided to investment Rs 600 crore in a bottling plant in Dehradun district. Hindustan Coca Cola Beverages Pvt Ltd, a subsidiary of Coca Cola India Pvt Ltd signed a memorandum of understanding (MoU) with the state officials on Wednesday.
Under the agreement, the state will provide 60 acres land to the bottling plant. Coca Cola, on the other hand, will phase wise invest Rs 600 crores in the project. The plant will come up in Vikasnagar, 25kms from the state capital.
"We preferred (Dehradun) since it's strategically located. With this plant, we will be able to strengthen our network in the north," Patrick George, senior vice president (supply chain) told Hindustan Times. George added that the company would recruit 750-1000 employees over time.
The company will mainly bottle non-alcoholic carbonated beverages in this plant. As a token amount, George handed over a Rs 1.6 crores cheque as earnest money to chief minister Vijay Bahuguna.
The chief minister, who had earlier claimed that the government was trying hard to bring industrialists to the state, said, "The entry of Coca Cola in the state will be a step forward to brand Uttarakhand as an investment destination".
"Uttarakhand has many advantages to emerge as an industrial state. We have a conducive atmosphere with easy human resources," Bahuguna underlined.
Rakesh Sharma, managing director of Infrastructure and Industrial Development Corporation of Uttaranchal (SIDCUL) said the government had provided land at Rs 95 lakh per acre to the company.