HYDERABAD: French gourmet flavourings major Georges Monin SAS has rustled up an investment of 300 crore in setting up its eighth global manufacturing facility and India headquarters in city.
The investment is being made in the first phase of the project that is coming up over 40 acres at Gunthapally in Sangareddy and will create about 100 new jobs, Monin president Olivier Monin told TOI on Wednesday. Hyderabad already houses the 111-year-old company’s 60 employees in R&D and sales & marketing functions.
The facility, for which the ground breaking ceremony was conducted on Wednesday, is expected to be ready for production by the end of 2025 and will make syrups, fruit mixes and crush products to cater to the HORECA (hotels, restaurants & cafes) segment.
As part of Phase-1, Monin will build an over 2 lakh sq ft facility that will house not just Monin’s India headquarters but also its R&D centre and manufacturing facility that will cater to the Indian and South Asian markets.
About 90% of the production will be sold in the Indian market and the remaining in Sri Lanka, Bangladesh and Nepal, he explained. While Monin refused to divulge production capacity details, he said “once ready we will be able to produce 5-7 times what we are selling in India currently. For the company, India represents about 5-7% of global sales but within the next 7-10 years it should reach around 20% of our global sales”.
Indicating that revenues from India currently stand at 100 crore, he said Monin is now focusing on coming up with Indian flavours.
Speaking on the occasion, IT minister KT Rama Rao urged Monin to make the facility its hub for not just South Asia but Middle East and South East Asia as well and enhance its investment beyond 300 crore. He said with Monin joining the long list of investors in the state, the food processing ecosystem of Telangana has gone up a notch.
The investment is being made in the first phase of the project that is coming up over 40 acres at Gunthapally in Sangareddy and will create about 100 new jobs, Monin president Olivier Monin told TOI on Wednesday. Hyderabad already houses the 111-year-old company’s 60 employees in R&D and sales & marketing functions.
The facility, for which the ground breaking ceremony was conducted on Wednesday, is expected to be ready for production by the end of 2025 and will make syrups, fruit mixes and crush products to cater to the HORECA (hotels, restaurants & cafes) segment.
As part of Phase-1, Monin will build an over 2 lakh sq ft facility that will house not just Monin’s India headquarters but also its R&D centre and manufacturing facility that will cater to the Indian and South Asian markets.
About 90% of the production will be sold in the Indian market and the remaining in Sri Lanka, Bangladesh and Nepal, he explained. While Monin refused to divulge production capacity details, he said “once ready we will be able to produce 5-7 times what we are selling in India currently. For the company, India represents about 5-7% of global sales but within the next 7-10 years it should reach around 20% of our global sales”.
Indicating that revenues from India currently stand at 100 crore, he said Monin is now focusing on coming up with Indian flavours.
Speaking on the occasion, IT minister KT Rama Rao urged Monin to make the facility its hub for not just South Asia but Middle East and South East Asia as well and enhance its investment beyond 300 crore. He said with Monin joining the long list of investors in the state, the food processing ecosystem of Telangana has gone up a notch.