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Sunday, July 14, 2024
HomeCompaniesPet food major Mars commits additional ₹800 crore investment in Telangana

Pet food major Mars commits additional ₹800 crore investment in Telangana

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Global pet food major Mars Inc has announced that it would invest ₹800 crore more in Telangana, taking the total investment commitment to ₹1,500 crore on its operations in the country.

The announcement was made during a visit of Telangana’s IT and Industries Minister K T Rama Rao and his team to the company’s headquarters in New York on Friday.

The team is in the US, scouting for investments into the Southern State.

“The company said it would put in the investments into its second phase of expansion in Telangana,” a State government official said.

Also read: Foxconn ups investment in Telangana to $550 million

Mars invested ₹200 crore in Siddipet for the production of pet food under top brands such as Pedigree and Whiskers. In 2021, Mars signed an agreement with the State government for expansion of their manufacturing facility in Telangana with an additional investment of ₹500 crore.

“They said they would invest ₹800 more,” the official said.

The Telangana delegation held discussions with Sekhar Krishnamoorthy, Chief Data and Analytics Officer (Pet Nutrition) at Mars Inc in New York.

“Mars said it would commence phase-II expansion works at its Siddipet facility,” he said.

Omnicom’s facility in Hyderabad

Meanwhile, Omnicom Group, a global media, marketing, and communications company, will set up a global capability centre in Hyderabad. “It is estimated that the move will create over 2,500 jobs,” a government statement said.

Rama Rao and his team met Omnicom’s leadership team in New York on Friday.

“Our preliminary discussions with Omnicom’s leadership in May has rapidly taken shape by August,” Rama Rao said.





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