Hindustan Coca-Cola Beverages will be investing Rs 3,000 crore towards setting up a new plant for juice and aerated beverages in Rajkot, Gujarat.
The largest bottling partner of Coca-Cola India signed a Memorandum of Understanding with the Gujarat government, ahead of the Vibrant Gujarat Global Summit 2024 in January, pledging the proposed investment.
The new facility, expected to commence in 2026, combined with HCCB's existing facilities in Goblej and Sanand, highlights the company's strong presence in Gujarat. The expansion will increase the company's employee strength in the state to over 1,500, according to a release. HCCB's network in Gujarat includes around 285 distributors and over 2,24,000 retailers.
“It is not only about scaling our business operations but also about deepening our roots in a state that has been a key market and a source of inspiration for innovation,” according to Himanshu Priyadarshi, chief public affairs, communications, and sustainability officer at HCCB. "We foresee this project as a catalyst for regional development and bringing in new opportunities for local talent."
HCCB currently operates in 22 states and three union territories, serving 2.5 million retailers and 3,500 distributors, with a workforce of 6,000 employees. The company manages 16 factories and offers 60 products across seven categories, including beverage brands such as Coca-Cola, Thums Up, Sprite, Minute Maid, Maaza, SmartWater, Kinley, Limca, and Fanta.
For FY23, the company witnessed a twofold increase in net profit to Rs 809 crore, according to its filing submitted to the Registrar of Companies.
The company reported a substantial growth of 41.51% in its operational revenue, totaling Rs 12,735 crore for the same fiscal, benefitting from heightened in-house consumption after the Covid-19 pandemic.
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