PepsiCo to invest US$2.5 bln in China
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An employee supervises a bottling line at PepsiCo's Chongqing plant. PepsiCo plans to open 14 new plants for soft drinks, non-carbonated beverages and snacks and add production lines in existing facilities. [China Daily] |
US food and beverage giant PepsiCo has announced it will invest 2.5 billion US dollars in China over the coming three years.
PepsiCo CEO Indra Nooyi said in Shanghai Friday that PepsiCo would build four bottling plants in four Chinese provinces of Gansu, Henan, Yunnan and Fujian over the next two years.
In addition to stepping up research and development, and product innovations, the company will also invest to develop agricultural projects so that it will become one of the largest potato growing companies in China in three years. It will also build five potato and oat farms in China.
Investment will also be made to finance brand building, said Indra Nooyi, who was in Shanghai attending the World Expo, as PepsiCo is sponsoring the U.S. Pavilion at the event.
The drinks maker currently owns 27 plants and five farms across China.
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