US multinational food and beverage company PepsiCo, has announced its plans to invest $100 million in Egypt this year, to expand its activities in the country.
This investment is part of a 4-year commitment to invest a total of $515 million in the Egyptian market.
As part of the investment, the company will expand the production lines of two of its subsidiaries from the food industry, Pepsi Cola Egypt and Chipsy, as well as will invest in sustainable development, on the latest technologies, and in community development projects.
According to the sources, PepsiCo is focused on social responsibility programs, as women empowerment and entrepreneurship.
This announcement was made after a meeting between Mohamed Shelbaya, chairman and CEO of PepsiCo Egypt and Mohamed Abdel-Wahab, CEO of the General Authority for Investment and Free Zones, where they discussed Egypt as a possible regional centre for the North African market.