Hyderabad: Global pet food major Mars Inc has announced an investment of Rs 800 crore to commence its Phase-II expansion in Telangana.
The Petcare firm already has a plant with a fixed capital investment of Rs 200 crore in the Siddipet district where they manufacture pet food under well-known brands such as Pedigree and Whiskers.
The latest announcement takes the total fixed capital investment of Mars Inc in Telangana from Rs 200 crore to Rs 1500 crore.
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This is after Mars Petcare signed a MoU on December 17, 2021, with the Telangana government for the expansion of their manufacturing plant in the state with an additional investment of Rs 500 crore.
State industries minister KT Rama Rao met with the chief data and analytics officer for Pet Nutrition, Sekhar Krishnamoorthy at Mars Inc in New York on Friday.
Given the rapid growth in the pet food market in India, Mars expressed interest to commence phase-II expansion of their plant in Siddipet.
During the meeting, the state government and Mars Inc agreed to get into a broad base partnership to establish initiatives for improving pet care and pet nutrition in the country.
Possibilities for the creation of a comprehensive base for Mars Inc in R&D, digital transformation, agri supply chains, innovation and sustainability areas were also discussed.
Meanwhile, Persistent Systems is planning to create 1000 new jobs in Telangana in the next two years.
“Delighted to hear about the commitment of Persistent Systems to create 1000 new jobs in the next 2 years. Their dedication to Telangana’s growth is inspiring,” said KTR.
The minister had a meeting with CEO and Executive Director of Persistentsys, Sandeep Kalra, in New York. Persistent Systems is a global services and solutions company delivering Digital Engineering and Enterprise Modernization.
The discussions centred around the role of technology in the growth and power of Telangana as a talent hub.