Mars International India, makers of Snickers and Galaxy, has agreed to invest Rs 1,005 cr for a 40,000-tonne capacity manufacturing plant in Pune district
To meet the demand of growing number of chocolate lovers in India, internationally renowned US-based chocolate brand, Mars Inc, has decided to set up shop in Maharashtra.
Mars International India, best known for chocolates like Snickers, Galaxy and the Mars bar, has signed a memorandum of understanding (MoU) with the state government at the Vidhan Sabha on Wednesday, to set up a state-of-the-art manufacturing unit, in Khed, in Pune district.
The company is expected to invest Rs 1,005 crore over a period of seven years in the unit, which has the capacity to produce 40,000 tonnes chocolate. Pune is emerging as a chocolate manufacturing hub, with Ferrero Rocher and Cadbury already setting up its unit in the district, state officials said.
Mars International India General Manager M V Natarajan said, “We are planning to invest to the tune of Rs 1,005 crore and are committed to deliver quality products to the Indian consumers, of global standards.”
Natarajan stated that the initiative reiterates the company’s continued commitment to India.
“The chocolate industry in India is growing at nearly 20 per cent every year, and we see this as a huge opportunity to expand our chocolate portfolio in the coming years,” he added. Ehab Abou-Oaf, Asia-Pacific regional president for Mars Chocolate, said, “India is a high priority market for Mars. We are excited to have invested in a highly potential market like India, which is poised for further growth.”
Inputs from Agencies