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Hindustan Coca-Cola Beverages Pvt Ltd (HCCBPL), a bottling partner of Coca-Cola Company in India, will invest Rs 600 crore to set up a facility that will make carbonated beverages, juice and fruits-based drinks here.
The company will invest Rs 600 crore in two phases on the project which will come up in 60 acres of land in Vikasnagar tehsil of Dehradun, Uttarakhand government said in a press note.
An agreement regarding this was signed between company officials and State Infrastructure and Industrial Development Corporation of Uttarakhand Ltd (SIDCUL) in the presence of Uttrakhand Chief Minister Vijay Bahuguna.
HCCBPL is the largest bottling partner of the Coca-Cola Company in India and responsible for the manufacture, package, sale and distribution of beverages under the trademarks of Coca-Cola Company, according to information on its website.
HCCBPL Executive Director Shukla Wassan and SIDCUL Managing Director Rakesh Verma signed the agreement.
The proposed unit would manufacture non alcoholic carbonated beverages, juice, fruits based drinks, it said.
It said the Uttrakhand government would provide 60 acres of land to the company at the rate of Rs 95 lakh per acre.
The project is expected to provide direct and indirect employment to around 1,000 people, it added.
Speaking on the occasion, Bahuguna said such an investment in the state would give a positive signal to other investors.
Further, the press note said HCCBPL Senior Vice President Patrick George has deposited a cheque of Rs 1.60 crore to the state government as earnest money and processing charge.
Expressing gratitude to the government, he said special preference would be given to local people for employment in the project.
Beverages major Coca Cola Company has posted 8% sales growth in volume terms in India for the first quarter ended March 29, 2013.
The US-based company, which announced its global earnings for the first quarter, had said brand Coca Cola grew by 30% in India during the first quarter.
