Karnataka okays Coke's Rs. 1,000-crore investment.

The Karnataka Government has cleared allotment of 250 acres to Hindustan Coca-Cola Beverages, 125 acres to Mphanite Solutions and 150 acres to Railway Coach Factory in Yadgir district in the Hyderabad-Karnataka region.

About 53 pharmaceutical companies from Andhra Pradesh have also shown interest to invest in Yadgir. All investment proposals were cleared by Karnataka Chief Minster Siddaramaiah, while holding the Hyderabad-Karnataka region industrial development review meet.

Hindustan Coca-Cola plans to invest Rs. 1,000 crore to build its facility to make aerated soft drinks and employ 500 people.

Shukla Wassan and Ashotosh Singh, representing Hindustan Coca-Cola Beverages, met chief minister and appraised him of details of their proposed investment at the Yadgir industrial area. Mphanite Solutions is investing Rs. 489 crore to set up facility to manufacture pet bottles.

The 53 pharmaceutical companies which have shown interest to invest in Yadgir have collectively sought 640 acres, and plant to invest Rs. 1,297 crore. The Hyderabad-Karnataka region's industrial development review meet also has cleared five textile units which have come forward to invest in Yadgir.

They are Shahi Exports, RSB Cottex, Ahmedabad, Prajna Jyothi Textile Park, Assam; ETCO Denim, Mumbai; and Sharanik Kumar Dhoka, Saidapura, Yadgir.

HBL