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Cadbury India, a part of Mondelez International, today said it plans to invest more than Rs 1,000 crore in setting up a plant in Andhra Pradesh which will the company's largest manufacturing plant in Asia Pacific.
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, the company said in a statement.
The multi-category food campus will be the largest chocolate manufacturing plant in India and the largest Mondelez International manufacturing facility in Asia Pacific, it added.
Commenting on the development Mondelez International President, India and South Asia Anand Kripalu said: "This investment will build on our success in India till date and ensure long term business sustainability."
He further said: "India is one of the priority emerging markets for Mondelez International. As leaders in the chocolate category in India and with aggressive growth plans for other categories, it heralds our commitment and intention for this market.
Cadbury India today signed an agreement with Sri City to take on lease 134 acres of land for the proposed facility.
The new facility is expected to create close to 1,600 direct jobs by 2020.
The company currently has manufacturing plants in Himachal Pradesh, Maharashtra, Karnataka, Madhya Pradesh and Andhra Pradesh.
