PepsiCo India plans Rs 500 cr investment to set up food manufacturing unit in UP

PepsiCo India July 28 said it will invest Rs 500 crore to set up a food manufacturing unit in Uttar Pradesh. Speaking at the second ground breaking ceremony here, PepsiCo India President and CEO Ahmed El Sheikh said his company will focus on expansion of its agro-based programme in the state.

“Through this programme, we will provide seeds, technology, equipment, weather insurance, training and guidance for our team of agronomists,” he added.

On investment plans, he said, “To set up our third unit of greenfield food manufacturing plant in Uttar Pradesh, an investment of Rs 500 crore will be made.”

El Sheikh further said that this will generate 1,500 jobs in the state.

“We will also expand our supply chain. We require 7,00,000 tonne of potatoes,” he said.

“We are inspired by the government’s plan of doubling farmers’ income,” the PepsiCo India CEO said.

[“source=moneycontrol”]