Beverage giant Coca-Cola is all set to invest Rs165bn ($3bn) in India through 2020. The new investment is higher by $3bn from the previous announcement made in 2011.
Coca-Cola said the company now plans to invest $5bn in the country from 2012 to 2020 and the latest investment, aimed at increasing its share in the country’s nonalcoholic ready-to-drink (NARTD) beverage market, would be made with an intention to increase bottling lines, add new bottling plants and enhance back-end chain infrastructure.
The company along with its partners, in November 2011 had announced plans to invest $2bn in India over the next five years to improve its business operations, including plans to set up a new plant in the country.
The Coca-Cola Company chairman and CEO Muhtar Kent said achieving continued sustainable, responsible growth in the county is core to achieving its 2020 Vision of doubling system revenues in the decade.
"Our ongoing investment in India is focused on delivering innovation, partnerships and a portfolio that enhances the consumer experience, ensures product affordability and builds brand loyalty to deliver long-term growth," Kent added.
According to Coca-Cola, which operates 56 plants in India at present, the company and its bottling partners further plan to invest more than $30bn worldwide, over the next five years to support anticipated growth.