PepsiCo, the US based drinks and snacks giant, is planning to invest 514 crore INR ($74.7 million) over the next three years to set up a snack manufacturing plant in Uttar Pradesh, northern India, according to a report in the Economic Times.
The new plant is expected to create over 1,500 direct and indirect jobs, the company said in a statement.
Commenting on the move, PepsiCo India president and CEO Ahmed ElSheikh said: “PepsiCo is committed to growing its food and beverage business sustainably in India. We have a long relationship with the people of Uttar Pradesh. As we look to double our snacks business over the next few years, we intend to invest Rs 514 crore approximately to expand our footprint in Uttar Pradesh”.
The company added it would expand its backward integration with local farmers with the aim of bringing agricultural best practices to the region.
Source: Economic Times