26 April 2016 Current Affairs GK: Mondelez, best known for its Cadbury chocolates, inaugurated a Rs 1,265-crore plant in Tada, SriCity, Andhra Pradesh, making it the company’s seventh manufacturing unit in the country.This was the company’s largest plant in the Asia-Pacific region and would cater to domestic and regional needs.The plant's capacity is 250,000 tonnes a year, which the company hopes to touch by 2020. The total investment is expected to reach Rs 2,300 crore by then.
Other Plant : Mondelez has invested Rs 670 crore in its six other plants in the country: two in Maharashtra, two in Himachal Pradesh and one each in Madhya Pradesh and Andhra Pradesh.
In the past few years, packaged food companies like Kellogg’s, Mars, Cargill, Coca-Cola and PepsiCo have made significant investments in India.Data sourced from the department of industrial policy and promotion shows yearly foreign direct investment in food processing has been consistently above Rs 2,000 crore, pointing to growing corporate interest in the sector.Domestic players like ITC and Britannia are also betting highly on packaged foods.
Mondelez : Mondelez is a multinational confectionery, food, and beverage conglomerate based in the United States which employs about 107,000 people around the world. It consists of the global snack and food brands of the former Kraft Foods Inc after the October 2012 spin-off of its North American grocery operations. The Mondelez name, adopted in 2012, was suggested by Kraft Foods employees and is a combination of the words for "world" and "delicious" in Romance languages.
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