India: Coca-Cola bottlers to invest $3 billion in food processing

Coca-Cola’s three Indian bottling partners have announced plans to invest 25,760 crore INR ($2.96 billion) in a new food processing venture, according to limited reports in the Business Standard.

The investment commitment has been made by SLMG Beverages, Hindustan Coca-Cola Beverages (Coca-Cola’s wholly owned bottling subsidiary), and the Kandhari Group of Companies, covering the states of Uttar Pradesh, Bihar, Andhra Pradesh, Telangana, Karnataka, Gujarat, Punjab, Rajasthan and Jammu.

SLMG Beverages, the largest bottler for Coca-Cola in India, will reportedly allocate 8,000 crore INR ($880 million) towards the investment.

It is expected that the projects will create 30,000 direct and 300,000 indirect jobs, with implementation scheduled to begin this year and completion planned for 2030.

Source: Business Standard