On Friday, the Meghalaya Cabinet approved the Pepsico plant’s setting up in the Mendipathar industrial area of Garo Hills. Varun Beverages Limited, the firm that runs the Pepsico plant, proposed this proposal. It is to be noted that Meghalaya handed over the land to Varun Beverages Limited a few months back for setting up the plant.
Benefits for Meghalaya
Chief Minister of Meghalaya Conrad Sangma said that 90% of the non-managerial staff will be locals from Meghalaya and 50% of the managerial staff will have to be locals within two years of the setting up of the plant. This initiative benefits the youth of Meghalaya and generates employment for the youth which is expected to have around 500 people employed in the plant.
Additionally, the plant also will produce fruit juice Conrad Sangma said that the plant should source the fruit and other local products from local to support the farmers of the state.
Pepsico 300cr Investment in Meghalaya
The plant proposal was Rs 200cr for Pepsi products and the additional Rs 100cr was for the fruit juice and fruit pulp investment, this brings the total to Rs 300cr investment. According to the Meghalaya Industrial Policy of 2024, an investment of more than 100cr companies will get certain special incentives from the government and this is again in line with what other state governments have done.
Here the incentive decided by the cabinet includes benefits of subsidy, interest subvention, and reimbursement of SGST of 200% to the company.
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Conclusion
The plant is expected to be completed in 12 months the state government is giving land to the firm on lease. An amount of Rs 6 crore was paid as a premium. Overall, this will create job opportunities in the local area when the plant is set up because most of the employees will be local. This plant will also supply Pepsi and other products to the state of Assam and part of West Bengal.
