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Varun Beverages to set up greenfield facility in Punjab for Tropicana
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Saturday, 07 April, 2018, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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Varun Beverages Limited, a key player in the beverage industry, announced its plans to establish a greenfield production facility (subject to the receipt of the necessary approvals) to create in-house production capacity for Tropicana fruit juices, Quaker Oats milk-based beverages and Gatorade.
The foundation stone for the new production facility was laid in Pathankot district by the Punjab chief minister. Spread over approximately 41 acre in the district in Punjab, it will be the first fully backward-integrated facility in India to manufacture the complete range of the above products, including carbonated soft drinks (CSD), at a single location. The expansion is to take advantage of the growing demand of juice-based beverages for health-conscious consumers.
Commenting on the development, Ravi Jaipuria, chairman, Varun Beverages Ltd, said, “The juice market in India is expected to show strong double-digit growth. The setting up of this production facility is in line with our endeavour to strengthen our presence in fast growing categories.”
“The addition of these product categories to our portfolio will result in better asset usage, as the seasonality in these categories is relatively lower and will augment our return ratios and profitability metrics going forward,” he added.
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