Wants the company to stake most of its Rs.30,000 crore investment in Andhra Pradesh; says power cuts will be a thing of the past
Chief Minister N. Kiran Kumar Reddy wanted the global beverage maker PepsiCo to make most of its proposed Rs. 33,000 crore investment in the State. The State will provide the best facilities and assistance for the multinational company, he said.
“I thank PepsiCo chairperson Indra Nooyi for investing Rs. 1,200 crore in Andhra Pradesh. We would like most of the proposed Rs. 33,000 crore (in India) to be invested in Andhra Pradesh. We are ready to support the company in all possible ways,” he said after taking part in the ground breaking ceremony of the company here on Saturday.
The industry-friendly State has already cleared projects with investment promises to the tune of Rs. 1,30,000 crore, he said.
The power cuts experienced last year will be history and there will be no power cuts going forward according to the Chief Minister. Even if the State has to impose cuts , it would be the least in the country, he said. “The 7,000 MW gas based power plants in the State could not get fuel due to lack of supply from KG D6. Once we get gas, we will have surplus gas which can even be sold to neighbouring States,” he said.PepsiCo plans
Of the total investments lined up by 2020, the PepsiCo will make Rs. 1,200 crore investment in the first and single largest Greenfield beverage making plant in SriCity SEZ in AP, said Mr. D. Shivakumar, chairman and CEO, PepsiCo India.