Pernod Ricard India to invest Rs 1,800 crore in setting up malt distillery | Business News – Business Standard
From left to right: Jean Touboul (CEO, Pernod Ricard India), Devendra Fadnavis (Dy CM, Maharashtra), Uday Samant (Industry Minister, Maharashtra) and Harshdeep Kamble (Principal Secretary, Industries) at the signing of the MoU on Friday.
Spirits company Pernod Ricard India on Friday signed a Memorandum of Understanding (MoU) with the Maharashtra government to set up a malt distillery in Nagpur.
The company said it plans to invest up to Rs 1,800 crore ($200 million) over the decade for this purpose.
The distillery, one of the largest in India, will have a capacity of up to 60,000 liters per day and 13 million liters per year. With this project, the company ultimately aims to source up to 50,000 tonnes of barley annually from farmers across the country to produce malt spirits Longitude 77, Blender’s Pride and Royal Stag.
βWe are pleased to announce the launch of one of India’s largest malt spirit distilleries, which will be located in Nagpur. This initiative is a continuation of our committed efforts to create and innovate in India and we are confident that it will elevate India’s position on the global map as a key player in the production of high quality malt,β said Jean Touboul , CEO Officer, Pernod Ricard India, in a press release. The company aims to eventually employ 700 to 800 employees.
βThe establishment of this distillery will help create strong employment opportunities and help stimulate the growth of supporting industries and services. And most importantly, this would serve as a platform of opportunities for thousands of farmers in the region to earn a stable income and bring agricultural diversity and stability,β said Devendra Fadnavis, Deputy Chief Minister of Maharashtra.
First print: February 23, 2024 | 11:19 PM IST