Mondelez starts Rs1,600-cr expansion at Sri City plant
AP CM YS Jagan virtually presided over ground-breaking ceremony on Tuesday
image for illustrative purpose
Sri City (Tirupati) Mondelez India, with a portfolio of brands like Cadbury Milk, Oreo, Bournvita, on Tuesday hosted a virtual ground-breaking ceremony for the expansion of its manufacturing plant here. The company is investing Rs1,600 crore in setting up new chocolate capacity to meet the rising demand in India. Andhra Pradesh Chief Minister YS Jagan Mohan Reddy along with Venkat Venepally, Vice-President (Supply Chain), Mondelez India, joined the event virtually and presided over the ground-breaking ceremony. Sri City is a multi-product special economic zone, Domestic Tariff Zone and Free Trade and Warehousing Zone inaugurated in 2008.
The investment will add additional chocolate-making capacity over the next three years, helping Sri City to become one of Mondelēz International’s largest chocolate production plants globally. The investment will also create additional employment in the State.
In his message, Venkat Venepally said: “With a 75-year history in India, the company is proud to continue investing in the country given our growth. Our Sri City manufacturing plant has been a critical site and we are delighted to continue investing to expand our capacity and footprint in AP. Sri City not only contributes to the overall growth of our business in India, but is also a model site for sustainability, new innovations and in areas like diversity and inclusion.”
He said: “We would like to express our gratitude to the AP government for its continued partnership and look forward to building on our success in the State.”
With the Sri City facility being the recipient of the World Economic Forum’s fourth Advanced Industrial Revolution (4IR) ‘Digital Lighthouse Award’, the new investment is expected to further empower the facility to enhance its focus on sustainable practices and processes.
Ravindra Sannareddy said: “This is the second event in Sri City in which the CM participated, although virtually. On behalf of the Sri City industrial fraternity, I express my heartfelt appreciation and use this opportunity to welcome him to Sri City for the opening of new units that are nearing completion.”
