Chocolate major Cadbury India, part of Mondelez International, on Wednesday announced its plans to invest R1,000 crore to set up the company?s largest manufacturing plant in Asia Pacific in Sri City, Andhra Pradesh.
The company 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 and the project will be developed in four phases and is scheduled for final completion by 2020.
Announcing the news, Mondelez International president, India and South Asia, Anand Kripalu said, ?India is one of the priority emerging markets for Mondelez International. This investment will build on our success and ensure long term business sustainability.?
According to Kripalu, 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,? he said.
Sri City managing director Ravindra Sannareddy said, ?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 investment and employment generation by Cadbury would add impetus to the economic development of the region.?