Jharkhand Signs MoU with PepsiCo’s Varun Beverages

Jharkhand Welcomes Rs 456 Crore Investment from Varun Beverages

Chief Minister Hemant Soren oversees signing of MoU between Jharkhand’s industries department and Varun Beverages for a major investment in the state.

RANCHI – In a significant move to boost industrial growth, Jharkhand’s Chief Minister Hemant Soren witnessed the signing of an MoU between the state industries department and PepsiCo’s bottling subsidiary, Varun Beverages Limited, at his residential office in Ranchi.

Soren emphasized the state government’s revamped industrial policy, aimed at attracting new industries across Jharkhand.

Notably, several reputable industrial institutions have expressed interest in investing under the new policy, with a recent surge in industrial expansion in Jamshedpur and other areas.

The Chief Minister highlighted a mandate for local hiring, requiring 75% of industrial jobs to be filled by locals, alongside assurances of security and a favorable investment environment in the state.

Ravikant Jaipuria, Chairman of Varun Beverages, informed the Chief Minister about the company’s role as PepsiCo’s bottler in India.

The company plans to invest Rs 456 crore in Patratu, Ramgarh, for producing and bottling beverages like Pepsi, Seven Up, Mountain Dew, Mirinda, Tropicana Fruit Juice, Aquafina Water, and others.

This investment will also include the production of milk-based drinks, value-added dairy products, and beverage bottling.

Additionally, the company will generate 4 MW of solar electricity and contribute to local electric lighting.

Initially, Varun Beverages Limited will employ 600 people, reinforcing the state’s focus on job creation and industrial development.

This partnership marks a significant step in Jharkhand’s industrial growth, aligning with the state’s efforts to attract large-scale investments and provide employment opportunities.