Mondelez India, known for brands such as Cadbury Dairy Milk, Oreo, Bournvita, on Tuesday said it is investing ₹1,600 crore to expand its manufacturing plant in Sri City, Andhra Pradesh. The packaged food major also hosted a virtual groundbreaking ceremony for the same. YS Jagan Mohan Reddy, Chief Minister of Andhra Pradesh and other dignitaries presided over the ceremony.
Earlier the year, Mondelez India had said that it plans to invest ₹4,000 crore in the 2023-26 period in the country to ramp up capacity at existing factories, besides augement warehousing, logistics, and cold-chain infrastructure. The investment at the Sri City manufacturing facility is part of this larger investment plan.
“The investment will add additional chocolate-making capacity over the next three years, helping Sri City to become one of the Mondelēz International’s largest chocolate production plants globally. This investment will also create additional employment in the State,” the company said in a statement.
In a statement, Venkat Venepally, Vice-President - Supply Chain at Mondelez India said, “Our Sri City manufacturing plant has been a critical site and we are continuing to invest to expand our capacity and footprint in the state of Andhra Pradesh. 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.