India: Coca Cola to invest in new plant in Karnataka
Coca Cola’s plans to open a new bottling facility in the Indian province of Karnataka are one step closer to fruition, according to a report in Business Today.
Hindustan Coca Cola Beverages , part of the Coca Cola group has confirmed the investment of more than Rs 1,000 crore ($160 million) to construct a new facility in the state’s northern region. The new facility will be developed on a 250 acre plot which the Karnataka government has allotted to Hindustan Coca Cola Beverages in the Yadgir industrial area and will employ about 500 people.
According to earlier reports from CNBC, the investment forms part of Coca Cola’s commitment to invest $5 billion in India by 2020. Blueprints for the projects had previously been drawn up in 2010 but the project had reportedly been hampered by land acquisition issues.
Source: Business Today / CNBC