Cadbury India to invest Rs 1000 Cr in Sri City
Hyderabad/Mumbai, Aug 7 (INN): Cadbury India, part of Mondelez International, has announced plans to invest more than Rs 1000 crore in Phase-1of the company's largest manufacturing plant in Asia Pacific to be located in Sri City of Andhra Pradesh.
The Cadbury India on Wednesday signed an agreement with Sri City to take on lease 134 acres of land for the proposed facility. The first phase is expected to be completed by mid-2015. The project will be developed in four phases and is scheduled for final completion by 2020.
The multi-category food campus will be the largest chocolate manufacturing plant in India and the largest Mondelez International manufacturing facility in Asia Pacific.
The facility is expected to create close to 1,600 direct jobs by 2020. Once completed, this project will set examples in production efficiency, energy saving, emission reduction and community involvement.
Commenting on the investment, Anand Kripalu, President, India and South Asia, Mondelez International said, 'India is one of the priority emerging markets for Mondelez International. This investment will build on our success in India till date and ensure long term business sustainability.
As leaders in the chocolate category in India and with aggressive growth plans for other categories, it heralds our commitment and intention for this market. We would like to thank the Andhra Pradesh Government and Sri City for their support.'
Ravindra Sannareddy, Managing Director, Sri City said,' We are profoundly happy that Cadbury India has chosen Sri City to establish their largest manufacturing plant in the Asia Pacific region.
This significant investment establishes Sri City as a destination of choice for the FMCG and food industry. The location and infrastructure is well suited to meet the demanding requirements of the industry.
Together with our client base of over 90 companies from 25 countries, the huge investment and employment generation by Cadbury would add impetus to the economic development of the region'.
The company currently has manufacturing plants in Himachal Pradesh, Maharashtra, Karnataka, Madhya Pradesh and Andhra Pradesh.
News Posted: 7 August, 2013
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