The investment will go towards the procurement of processed fruit pulp and fruit concentrate for Coca-Cola juice and juice drinks; as well as the associated infrastructure.
The effort also aims to contribute to the government's vision of doubling farmers’ income by 2022, creating a “circular economy of sustainable agriculture.”
“The agriculture sector in the country is undergoing rapid transformation with the focus on adoption of technology and scientific methods of farming across the value chain," said Shri Devendra Fadnavis, Hon’ble Chief Minister of Maharashtra, in a statement.
"In line with our commitment to the overall development of farmers, we are encouraging investments in the agriculture sector to substantially enhance productivity and farmers' income”.
The Coca-Cola Company has set out its ambitions to become a 'total beverage company', building more consumer-centric brands such as low and no sugar options and drinks in emerging categories.
“We've been on a journey to expand our portfolio. This [the total beverage company model] is about a full set of categories and responding to the consumer, not a central portfolio with some periphery,” Coca-Cola CEO, James Quincey, said during its latest earnings call.
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