Dive Brief:
- Mondelez International will invest $190 million to build its largest manufacturing plant in the Asia Pacific region in Sri City, India.
- The Andhra Pradesh multicategory food facility will take up 134 acres and produce an annual 250,000 tons, making it the largest chocolate plant in India.
- An initial phase of the project will wrap up in 2015, and the investment follows Integrated Supply Chain Executive Vice President Daniel Myers' September announcement that the company would introduce initiatives to redesign its supply chain.
Dive Insight:
Mondelez isn't the only company to invest heavily in Asia in recent months. In November, Coca-Cola announced a more than $4 billion investment in its Chinese operations, followed by rival PepsiCo Inc. announcing a $5.5 billion investment in India. A large population and growing middle class in these countries is making the region much more lucrative for a number of companies.
