 "Pernod Ricard to set up malt distillery, maturation facility in Maharashtra | Company News")
The company said the project is poised to generate direct employment for 700 to 800 people. | Photo: Shutterstock
Wine maker Pernod Ricard India on Monday said it will set up a malt distillery and maturation facility in Maharashtra as part of the company’s plan to invest up to Rs 1,785 crore in 10 years.
The ground-breaking (Bhoomi Pujan) ceremony for the upcoming plant was held at Butibori, Nagpur in the presence of the state’s Deputy Chief Minister Devendra Fadnavis, the company said in a statement.
Click here to connect with us on WhatsApp
It is a significant first step in the realisation of the company’s Memorandum of Understanding (MoU) with the government of Maharashtra, signed on February 23, 2024, the statement said.
Â
The agreement also underscores Pernod Ricard’s commitment to India, backed by a projected investment of up to Rs 1,785 crore over a span of 10 years, the company said, adding that it has already committed about Rs 100 crore of investment in the state.
The upcoming plant, the company’s largest in Asia with annual production capacity of 13 million pure alcoholic litres, will produce world-class malt spirit, it said.
According to Fadnavis, the project underscores India’s growing stature on the global economic stage, providing job opportunities for hundreds of individuals while fostering skill development and entrepreneurship.
“It will drive economic growth, benefiting farmers and various sectors, aligning perfectly with our vision for a dynamic, diversified, and self-reliant economy,” Fadnavis said.
The company said the project is poised to generate direct employment for 700 to 800 people, with indirect job opportunities expected throughout the region. It will also provide farmers with new avenues to cultivate high-quality barley, thereby improving their livelihoods and contributing to agricultural diversity.
“This facility will benefit from Pernod Ricard’s rich heritage in producing premium spirits. We are proud to be at the forefront of this transformation, contributing to the economic and social prosperity of Maharashtra and beyond. Our vision is to shape a sustainable future, where India emerges as a hub for premium malt spirits crafted with global precision and local passion,” said Pernod Ricard India CEO Jean Touboul.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Oct 07 2024 | 9:24 PM IST
 "India reiterates opposition to China’s Belt and Road Initiative at SCO meet | External Affairs Defence Security News")
 "Trade deficit eases to $20.8 bn in Sept amid geopolitical challenges | Economy & Policy News")
&description=Pernod+Ricard+to+set+up+malt+distillery%2C+maturation+facility+in+Maharashtra+%7C+Company+News){kind=link}