PepsiCo to invest $70mn for Uttar Pradesh plant

Snacks and beverages major PepsiCo India has said that it will invest $70 million to build a food manufacturing plant in Uttar Pradesh. The American global beverage firm, which aims to invest $2.1 billion in India by 2022, said the investment is a part of its strategy to expand capacity in the country′s growing packaged foods market. PepsiCo said that it will invest with its local bottling partner Varun Beverages, as it plans to boost manufacturing capacity in India. The greenfield plant will create new jobs and will also enhance cold storage infrastructure, the company said. PepsiCo India′s diverse portfolio includes iconic brands like Pepsi, Lay′s, Kurkure, Tropicana 100%, Gatorade and Quaker. Last month, PepsiCo gave RJ Corp′s listed entity, Varun Beverages, the franchise right for a national bottling, sales and distribution in South and West regions. Varun Beverages is a key player in the beverage industry and owns a franchise of PepsiCo beverages business across 27 States and seven Union Territories of India.