PepsiCo India to invest Rs 500 crore in Uttar Pradesh

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Lucknow: Inspired from the government’s plan of doubling farmers’ income, PepsiCo India will set up a food manufacturing unit in Uttar Pradesh with an investment of Rs 500 crore. As per the reports, the investment will be made over the next three years.

Company is eyeing to expand its agro-based programme in the state.

PepsiCo India President and CEO Ahmed El Sheikh while speaking at the second groundbreaking ceremony said, “Through this programme, equipment, seeds, training, weather insurance, and guidance for our team of agronomists would be provided.”

Speaking on investment plans, he said, “An investment of Rs 500 crore will be made to set up our third unit of greenfield food manufacturing plant in UP.”

Through this project, the company is expected to create 1,500 jobs, both direct and indirect, in the state. The company would expand its backward integration with local farmers and help bring agricultural best practices to enable socio-economic growth for potato farmers in Uttar Pradesh.

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