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PepsiCo Inc Increases Investment In Its Upcoming Manufacturing Facility In Uttar Pradesh To 814 Crore
Lays Chips, which is made of the PepsiCo registered potato variety FC5. (representative image) (Image via @minifennecm/Facebook)
Bullish on Indian prospects in the post-COVID-19 order, food and beverages behemoth PepsiCo Inc has decided to increase its investments at the upcoming greenfield snacks manufacturing plant in Uttar Pradesh (UP) to Rs 814 crore, reports Economic Times.
The company had earlier planned an investment of Rs 500 crore in the State. With increased investment, the company will also be generating 1,500 direct and indirect jobs in the State, while also boosting the local sourcing ecosystem.
Despite the short-term disruptions caused by the COVID-19 pandemic, the company remains "extremely bullish" about the future of the Indian market and is committed to doubling its business from snacks business in the country.
The company is also increasing the capacity of its extant food plants in the States of Maharashtra and West Bengal, while also looking to set up an additional greenfield manufacturing facility in Assam.
PepsiCo Inc holds a wide portfolio of snacks brands which are sold widely in different parts of the nation. These include Lays and Kurkure. Meanwhile, its prominent beverages brands include Pepsi, Mountain Dew and Slice.
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