The greenfield snacks manufacturing plant, expected to be operational in 2021, will be located in Kosi Kalan town of Mathura district
PepsiCo India plans to invest Rs 514 crore towards setting up a new snacks manufacturing plant in Uttar Pradesh. A memorandum of understanding (MoU) to this effect was signed by the company leadership, at the ground-breaking ceremony of the investor summit in UP, with the state government in the presence of union home minister Amit Shah and UP chief minister Yogi Adityanath.
The greenfield snacks manufacturing plant, expected to be operational in 2021, will be located in Kosi Kalan town of Mathura district.
According to Ahmed ElSheikh, president and chief executive officer, PepsiCo India, the company is working on growing its food and beverage business sustainably in the country.
"As we look to double our snacks business over the next few years, we intend to invest and expand our footprint in UP. As we expand our operations, we will look forward to a fruitful association that will ensure socioeconomic progress of potato farmers in the state," said Sheikh.
The US food and beverage giant said the investment, to be made over the next three years, was in line with its plans to double snacks business in India by 2022. Once operational, the greenfield snacks plant will help create 1,500 jobs (direct and indirect), enable ancillary industries and benefit local potato farmers, the company said.
As part of this project, the company would expand its backward integration with local farmers and help bring agricultural best practices to enable socioeconomic growth for UP's potato farmers. To enable the supply chain, a cold storage facility will also be established which will help develop ancillary and other support industries in the state.
"All the potato used in Lay's and Uncle Chipps is grown in India and sourced from Indian farmers. Through a 360-degree farmer connect initiatives for potato cultivation, the company provides training and seed support, advanced plant protection programmes, and assured buyback with reasonable returns," the company said in the statement.
The snacks manufacturing operation in UP would expand the company's footprint of collaborative farming for potato in the state. The company's agri programme presently benefits over 24,000 farmers across 13 states through various agri and sourcing initiatives.
PepsiCo India owns three snacks manufacturing units in India, one each in Pune, Kolkata and Channo in Punjab.
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