Reliance Consumer Products Ltd (RCPL) the FMCG arm of Reliance Industries led by billionaire Mukesh Ambani will invest over Rs 1500 crore to establish an integrated food and beverages facility at Katol in Maharashtra. The company has signed a Memorandum of Understanding (MoU) with the Maharashtra government for setting up the plant in Nagpur. According to a video shared by Chief Minister Devendra Fadnavis on social media the project is expected to create over 500 direct jobs. The manufacturing operations at the proposed unit are scheduled to begin in 2026. Reliance Consumer Performance In its annual general meeting last month Reliance had announced that it will invest Rs 40000 crore (USD 4.7 billion) to create Asias largest integrated food parks with AI-driven automation robotics and sustainable technologies securing lasting cost leadership. RCPL which emerged from Reliance Retail and became a direct subsidiary of RIL is one of the fastest-growing companies in the FMCG space. It has crossed over Rs 11000 crore in revenue in just three years of inception. Isha Ambani On RCPL Future Plans 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 Indias 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 11500 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 Alans Enzo Ravalgaon etc to cater to evolving consumer preferences.  (With Inputs From PTI)