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Mumbai: Global soft drink major Coca Cola on Thursday announced a Rs 1,387 crore investment for a new manufacturing facility in Maharashtra's Ratnagiri district. The facility spread over 88-acre in the Lote Parshuram Industrial area in a Maharashtra Industrial Development Corporation area will utilise water from the Vashishthi river, a statement from Hindustan Coca-Cola Beverages said.

The greenfield facility in the Khed taluka is expected to be operational by 2025, and was termed as a "major leap" in the company's manufacturing capabilities.

The unit will provide direct and indirect employment to 350 people. A total of 81,000 people will benefit in the state through its community initiatives, the statement said.

These initiatives include educational infrastructure, water ATMs, sustainable agriculture, and community engagement centres, the statement said, adding that 10,000 people from Lote Parshuram area will benefit with the interventions.

A groundbreaking ceremony for the plant was held at the site on Friday, and was attended by state Chief Minister Eknath Shinde and HCCB chief executive Juan Pablo Rodriguez.

Rodriguez said the land in Maharashtra is "fertile" and its investment should be seen as one symbolising planting the seeds of growth and community partnership.

Shinde welcomed the company's decision, and added that the state government is aiming to make Maharashtra as a beacon of sustainable and equitable growth.

The company has 16 factories manufacturing 60 products across the country at present, and has its operations spread in 22 states.