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Pernod Ricard signs MoU with Maharashtra govt to invest Rs 1,800 cr in Nagpur

Monday, 26 Feb 2024
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French liquor giant Pernod Ricard signed a memorandum of understanding (MoU) with Maharashtra government on 23 February, 2024 to invest in a malt distillery at Nagpur. The company has plans to invest Rs 1,785 crore in the unit over a period of 10 years. It may take over two years to complete the construction, followed by the ageing of spirits.

With a capacity of 60,000 litres a day, the proposed unit is slated to beone of India's largest malt distillery. With this project, the company eventually aims to procure up to 50,000 tonne of barley on an annual basis from farmers to produce malt spirits Longitude 77, Blender’s Pride and Royal Stag. The company expects to employ a workforce of up to 700 to 800 people.

The initiative is in continuation to the Make and Innovate in India and to be a key player in the production of high-quality malt. The foundation of this distillery will assist in job creation and aid in spurring growth of ancillary industries and services. This would also serve as a platform of opportunities for thousands of farmers of the region to gain a steady income and bring agricultural stability, as stated by Devendra Fadnavis, Deputy Chief Minister of Maharashtra.

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