Food and beverages major PepsiCo, the multinational food and beverages company is going to set up a new (greenfield) potato chips production unit in Uttar Pradesh with an investment of Rs 814 crore.
According to the government spokesman, the unit will be set up on about 35 acres of land provided by the State Industrial Development Authority (UPSIDA) in Kosi-Mathura.
Starting in 2021, over 1,000 people will get direct and indirect employment from this chips factory.
In October, PepsiCo India President Ahmed ElSheikh had told news agency PTI that the brand is ‘extremely optimistic’ about the future of the Indian market despite short-term headwinds due to pandemic-related disruptions and increasing investment at its new greenfield snacks plant in Uttar Pradesh to Rs 814 crore to meet increasing demand.
He had then said that the company is committed to double its business from snacks business in India and also increasing the capacity of existing food plants in West Bengal and Maharashtra, and it has additionally proposed to set up a greenfield manufacturing facility in Assam.
This is the first time that a greenfield project is being set up by PepsiCo itself in Uttar Pradesh and by the time production starts from this factory, Uttar Pradesh will also become the first state in the country in terms of potato production.
“While there have been some short-term headwinds due to COVID-19, we at PepsiCo are extremely optimistic about the future and are committed to provide consumers the right portfolio of products across food and beverages,” ElSheikh told PTI.
PepsiCo India has emerged as one of the largest food and beverage companies in the country in 30 years of its establishment in India and is looking to build further, he added.