DECEMBER 20238COCA COLA COMPANY TO INVEST RS.3000 CRORE VIA FDI FOR NEW FACILITYThe Coca-Cola Company will invest Rs 3,000 crore to set up a beverage base and plant in Sanand, Gujarat. American multinational The Coca-Cola Company plans to attract foreign direct investment (FDI) through its subsidiary International Refreshments (India) (IRIPL), TOI reported on Dec 8. The state government has allotted 1.6 Lakh square meters of land (SM-52) in Sanand-II Industrial Estate for the factory. Government sources confirmed that the approval process has been expedited, reflecting the company's commitment to invest in Gujarat.Coca-Cola has made two major investments through its bottling partners in Gujarat. The government did not take long to give the go-ahead to the company. TOI quoted a senior government official.Previously, the company has invested significantly in Gujarat through its bottling partner, Hindustan Coca-Cola Beverages.The new plant in Sanand is expected to be fully automated, incorporating robotic technology, the Internet of Things (IoT), and machine-learning devices for real-time monitoring and control of manufacturing processes. Additionally, automated storage and retrieval systems will enhance efficiency.According to the TOI report, during the construction phase, the company plans to employ around 1,000 individuals, comprising both skilled and unskilled workers. Once operational, the plant is anticipated to provide jobs for approximately 400 individuals in operational and engineering roles, focusing on gender diversity. TATA MOTORS JOINS HANDS WITH HDFC BANK TO OFFER DIGITAL FINANCING SERVICESTata Motors on Dec 7 said it has partnered with HDFC Bank to offer digital banking solutions to its commercial vehicle customers. The two companies have signed a memorandum of understanding (MOU) in this regard, Tata Motors said in a statement.Through this partnership, Tata Motors customers will now have access to HDFC Bank and Tata Motors' vehicle financing solutions. "We have added an online shopping platform and mobile app, Tata e-Guru. Integrating financial services into a digital ecosystem will simplify the process, allowing consumers to choose the financial institution that best suits their needs", the company said."This partnership is in line with our commitment to enhance the customer experience through innovative digital solutions," said Rajesh Kaul, Vice President and Head of Trucks Business at Tata Motors. By combining the experience and influence of HDFC Bank, we aim to offer our customers a wide range of banking options that suit their unique needs.This alliance will cover all commercial vehicles offered by Tata Motors, including buses, trucks and small commercial vehicles and pickups."Our solutions are meticulously customized to meet the diverse requirements of customers, ensuring a tailored and seamless vehicle buying experience."We appreciate that the ease of accessibility for vehicle financing is immensely beneficial for customers and we're committed to enhancing the vehicle financing experience," HDFC Bank Executive Vice President, Commercial Vehicle Group, Balaji Varma said. TOP STORY
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