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BUSINESS
The project, announced by Large and Medium Industries Minister MB Patil, is expected to attract a total investment of Rs 1,400 crore over multiple phases and aims to boost the local economy through job creation and infrastructure development.
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Updated : Nov 30, 2024, 11:10 AM IST
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Sri Lanka cricket legend Muttiah Muralitharan will invest Rs 1,400 crore in phases to establish a beverages (soft drinks) and confectionery unit in Badanaguppe in Chamarajanagara district, Karnataka Large and Medium Industries Minister MB Patil said on Tuesday.
The announcement came after Patil held discussions with Muralitharan, who met him to discuss the project.
In a statement by the Minister's office, Patil said the former Sri Lanka cricketer Muralitharan plans to manufacture beverages and confectioneries under the brand 'Muttiah Beverages and Confectioneries.' The project, initially planned with an investment of Rs 230 crore, has now been revised to a total of Rs 1,000 crore. It will be further increased to Rs 1,400 crore in a few years, he said.
With his new business, "Muttiah Beverages and Confectioneries," the cricket player, who now holds the world record for most wickets in Test cricket, is expanding his business into the food and beverage sector.
A total investment of Rs 1,000 crore was originally anticipated for the project, but due to its increasing scope and scale, this amount has been amended to Rs 1,400 crore with intentions to raise to Rs 1,400 crore in the upcoming years. The minister stated that manufacturing operations are expected to start by January 2025 on 46 acres of land that have already been set aside for the project. He added that officials have been directed to resolve minor concerns regarding the land that has been allotted.
(With inputs from agencies)
