INDIA – Food and beverages giant, PepsiCo plans to increase its investment in Uttar Pradesh food processing industry announcing a-Rs 814 crore (US$11 million) green field project for production of potato chips in Uttar Pradesh (UP).
In addition, PepsiCo will be sourcing potatoes, its raw material, from the local sources thus helping farmers. Once ready, the plant would provide direct as well as indirect employment to around 1,500 people.
The unit would be set-up in Kosi area of the district will begin commercial production by mid-2021.
UP’s Industrial Development Minister, Satish Mahana said that the project was a reflection of CM Yogi Adityanath’s pro-industry policies.
“As a result, many companies like PepsiCo have shown trust in the Uttar Pradesh government and are optimistic about investing in the state.”Satish Mahana – Industrial Development Minister, UP
“Such policies, under which the government has implemented business reforms under ease of doing business has made Uttar Pradesh a highly attractive state for investments,
“As a result, many companies like PepsiCo have shown trust in the Uttar Pradesh government and are optimistic about investing in the state,” he said.
Chairman of PepsiCo India, Ahmed El Sheikh in a statement said that initially, an investment had been planned in this project for which the company has signed a memorandum of understanding with UP government during 2018 Investors’ Summit. Later, it was revised to Rs 814 crore (US$11 million).
Infrastructure and Industrial Developmental Commissioner Alok Tandon said that the project started with the arrangement of land at the groundbreaking ceremony held in July 2019.
“The government has started an extensive exercise of MoU tracking, land allocation, and labour related reforms because of which a transparent investment system is being established in UP,” he said.
Since 1990, PepsiCo has been producing carbonated soft drink and non-carbonated beverages in UP through franchisee. This is the first time that it is setting up a greenfield project in the state itself.
These units are operating in Greater Noida, Sathria-Jaunpur, Kosi, Kanpur Dehat & Hardoi. This is the first time that PepsiCo is setting up a greenfield project in the state.
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE