Reliance Consumer to invest Rs 1,500 cr to set up manufacturing facility in Nagpur

New Delhi, Sep 11 (PTI) FMCG firm Reliance Consumer Products Ltd (RCPL) will invest over Rs 1,500 crore to set up an integrated facility for food products & beverages at Katol in Maharashtra.

RCPL, the FMCG arm of billionaire Mukesh Ambani-led Reliance Industries, has signed a Memorandum of Understanding (MoU) with the Maharashtra government to set up the unit in Nagpur.

The unit will provide direct employment to more than 500 people, according to a video posted on the social media account of Maharashtra Chief Minister Devendra Fadnavis.

The proposed manufacturing unit will commence manufacturing in 2026.

As per the agreement, the state government will facilitate RCPL to obtain necessary approvals, clearances and financial incentives.

In its annual general meeting last month, Reliance had announced that it "will invest Rs 40,000 crore (USD 4.7 billion) to create Asia's largest integrated food parks with AI-driven automation, robotics, and sustainable technologies, securing lasting cost leadership.

RCPL, which has emerged from Reliance Retail and become a direct subsidiary of RIL, is one of the fastest-growing companies in the FMCG space. It has crossed over Rs 11,000 crore in revenue in just three years of inception.

In the AGM, RIL Director Isha Ambani said RCPL is among "growth engines" and the group now has ambitions to have a revenue of Rs 1 lakh crore in the next five years with a global presence.

Moreover, the FMCG business will also be the "blueprint for expansion" into apparel, electronics, and other large and high-value consumer categories, Isha Ambani said.

"Our long-term ambition is to become India's largest FMCG company with a global presence. This will make RCPL a big new value-creating engine for Reliance Group, comparable to our Retail business in size and profitability," she said.

RCPL, which is being demerged and is set to become a direct subsidiary of RIL, has, in just three years of operations, had revenues of Rs 11,500 crore (USD 1.4 billion), becoming "the fastest-growing FMCG player" in India.

The company, which has acquired a host of brands and also launched in-house brands ranging from soap to cola, "has emerged as one of the fastest growing FMCG companies in India".

It acquired consumer brands Tagz Foods and the launch of new variants under Campa, Independence, Alan's, Enzo, Ravalgaon, etc, to cater to evolving consumer preferences. PTI KRH SHW