Tuesday, 19 October 2021 11:19 GMT

Telangana minister hails French Co's decision to double investment


(MENAFN- IANS)

Hyderabad, Aug 4 (IANS) Telangana's Minister for Industry, K.T. Rama Rao, said on Wednesday that French fruit beverages manufacturing company Georges Monin doubling its investment in the state will give a big fillip to the food processing industry.

The minister took to Twitter to welcome Monin's decision to double investment in its upcoming manufacturing plant in Telangana to Rs 200 crore.

The company had earlier announced that despite the setbacks caused by the Coronavirus pandemic, it is doubling its investment for the plant, targeting completion by 2023.

"With the increased investment of 200 crore, India remains a top-priority market for Monin," said Olivier Monin, chairman, Georges Monin.

Monin had signed an MoU with the government of Telangana in 2018, announcing an initial investment of Rs 100 crore to set up the manufacturing plant.

The French business has since opened its wholly-owned subsidiary in Hyderabad as Monin India Pvt Ltd and has acquired 40 acres of land for its manufacturing site.

It has also set up an in-house R&D centre in Hyderabad.

--IANS

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