Hindustan Coca-Cola Beverages (HCCB), the largest bottling partner of Coca-Cola India, has formalised a Memorandum of Understanding (MoU) with the Gujarat government, affirming a substantial investment of Rs 3,000 crore in the state. The announcement precedes the Vibrant Gujarat Global Summit 2024 scheduled for 10-12 January 2024.
The major investment is earmarked for the establishment of a cutting-edge facility in Rajkot dedicated to the production of juice and aerated drinks. Set to commence operations in 2026, this facility will augment HCCB’s already substantial footprint in Gujarat, complementing its existing installations in Goblej and Sanand, according to a company statement.
The expansion initiative is poised to bolster employment opportunities in the state, increasing HCCB’s workforce to over 1,500 employees. The company’s extensive network in Gujarat encompasses approximately 285 distributors and over 224,000 retailers.
As per reports, presently operating in 22 states and three union territories throughout India, HCCB serves 2.5 million retailers and 3,500 distributors. With a team of 6,000 employees, the company manages 16 factories and offers an extensive product portfolio comprising 60 products across seven categories. Renowned beverage brands under the HCCB umbrella include Coca-Cola, Thums Up, Sprite, Minute Maid, Maaza, SmartWater, Kinley, Limca, and Fanta.
Himanshu Priyadarshi, Chief Public Affairs, Communications, and Sustainability Officer at HCCB, has been quoted emphasising the significance of the investment in Rajkot as a crucial milestone in the company’s enduring relationship with Gujarat. He highlighted the commitment to mutual growth and trust, underscoring HCCB’s dedication to leveraging the state’s potential while enhancing business operations and community engagement.
In the fiscal year 2023, HCCB reported a substantial surge in profits, more than doubling from Rs 375.43 crore to Rs 809.43 crore compared to the previous year. The company also witnessed a remarkable 40 per cent increase in revenue from operations, reaching Rs 12,840.2 crore, attributed to heightened demand for its beverages in the post-pandemic period.
