Tuesday, July 23, 2024
Tuesday, July 23, 2024
Home » Mondelez to Invest Rs 4,000 Crore Over 4 Years

Mondelez to Invest Rs 4,000 Crore Over 4 Years

by Mitchell Woods
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Mondelez India Foods is making a fresh investment of Rs 4,000 crore in capacity expansions across its factories, warehousing, logistics and cold chains over the next four years. The chocolate maker said it is witnessing a surge in consumption of its products across the categories, including volume sales.

This is in addition to the Rs 1,500-crore investment Mondelez made in the last four years. It is also over and above its investments in brands, advertising and media.

Mondelez India president Deepak Iyer said, “India remains a priority market for Mondelez International and we continue to invest and actually continue to accelerate our investment to grow our business here. This investment will help us transform our manufacturing footprint, both in terms of upgrading existing plants, and also augmenting capacity there.”

Mondelez India posted a double-digit growth, both in value and volume, in the December quarter. “We do see an acceleration in our growth trajectory. And what we’re happy about is a lot of it is coming by volume growth. And that’s why the need to invest in this,” said Iyer.

With regard to the inflation in dairy and cocoa, however, Iyer said the company is cautiously optimistic about the outlook. “But overall we are positive in the medium term. The category is growing and we are growing significantly higher than the category,” said Iyer.

Source : Times of India

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