"The construction at the site has already started and the commercial operation at the facility is likely to commence by mid-2015," said Diptarag Bhattacharjee, vice-president, east, Amway India.
The company will invest around Rs 500 crore in the plant spreading over 49 acres of land.
Amway India, which offers 142 products in five categories of personal care, home care, nutrition & wellness, cosmetics and great value products, now procures its products through seven third-party contract manufacturers.
Amway India is a wholly-owned subsidiary of US-based Amway Corporation.
The company aims to take its net sales revenue in India to about Rs 5,000 crore by 2020.
Last year, the company had clocked a turnover of Rs 2,288 crore in the country compared to Rs 2,130 crore in 2011. It eyes a growth rate of five percent in 2013 compared to seven per cent in 2012.
Addressing the media persons here, Bhattacharjee said, among the 29 states the company is operating in the country, Odisha has registered the fastest growth in the sale of the company's products.
Between January and June 2013, the company has recorded a turnover of Rs 33 crore in the state, compared to Rs 26.5 crore in the first six months of 2012, a growth of about 24 per cent.
We have set a target of about Rs 58 crore in Odisha in 2013, he added.
The company also unveiled a new line of monsoon colors under its brand 'Attitude' in Odisha. This monsoon colors comprise six shades of 'lip colors', three shades of 'nail colors', three shades of eye liner pencil and three shades of lip liner pencils.