|Chennai||Rs. 28730.00 (1.13%)|
|Mumbai||Rs. 29740.00 (-0.13%)|
|Delhi||Rs. 29200.00 (0%)|
|Kolkata||Rs. 29350.00 (0%)|
|Kerala||Rs. 28000.00 (0%)|
|Bangalore||Rs. 28400.00 (0%)|
|Hyderabad||Rs. 28470.00 (-0.11%)|
Hyderabad: Cadbury India, part of Mondelez International, Wednesday announced it will set up its largest manufacturing plant in Asia Pacific at Sri City in Andhra Pradesh.
The company will invest more than Rs 1000 crore in the first phase of the facility.
Cadbury India Wednesday signed an agreement with Sri City, a special economic zone in Chittoor district, 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, said a company release here.
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 about 1600 direct jobs by 2020.
"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," Anand Kripalu, president, India and South Asia, Mondelez International.
Cadbury India currently has manufacturing plants in Himachal Pradesh, Maharashtra, Karnataka, Madhya Pradesh and Andhra Pradesh.
"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," said Ravindra Sannareddy, managing director, Sri City.
"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," he added.