Chocolate maker Cadbury India on Wednesday said it will invest Rs 1,000 crore to set up the first phase of its largest manufacturing plant in Asia Pacific that will be come up in Southern India.
Commenting on the investment, Anand Kripalu, President, India and South Asia, Mondelēz International said, 'India is one of the priority emerging markets for Mondelēz International. This investment will build on our success in India till date and ensure long term business sustainability.'
Cadbury India, a part of Mondelez International Inc, has signed an agreement with Sri City in Andhra Pradesh to take on lease 134 acres of land for the proposed facility, the company said in a statement.
Sri City, located 55-kms from Chennai, is the largest private sector multi-product Special Economic Zone (SEZ) in South India. The city is home to over 85 industries from 24 countries.
The multi-category food campus, which will also be the largest chocolate manufacturing plant in India, is expected to create close to 1,600 direct jobs by 2020. The project will be developed in four phases. The first phase is expected to be completed by mid-2015 and final completion is scheduled by 2020.
Ravindra Sannareddy, Managing Director, Sri City said, '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.'
Cadbury India presently has manufacturing plants in Himachal Pradesh, Maharashtra, Karnataka, Madhya Pradesh and Andhra Pradesh.