October 23, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

PepsiCo commissions India’s largest greenfield plant worth Rs 814 cr

chief minister Yogi Adityanath today inaugurated global food and beverage major PepsiCo’s largest greenfield potato chips plant in India at Mathura.

Entailing an investment of Rs 814 crore, the unit spanning 29 acres in Kosi Kalan, Mathura will procure 150,000 tonnes of locally grown potatoes, thus benefitting more than 5,000 farmers and creating 1,500 direct and indirect job opportunities.

The company will also commission a state-of-the-art cold storage warehouse for an improved supply chain. The cold storage technology will increase the shelf life of potatoes substantially, said.

Virtually presiding over the inaugural ceremony from Lucknow, Adityanath noted that plant was an example of a partnership between the state and the private sector investor for the welfare of farmers.

“The state government framed the policies, while the private investor has taken it further by setting up the plant. This will ultimately benefit the state farmers and they will get lucrative prices for their farm produce,” he underlined.

The CM asserted PepsiCo unit would become a milestone of sorts for the region and spur similar pro-farmer partnerships with the private investors.

“UP is the country’s top food grain producer and it has abundant water resources. The state has the largest consumer market of 240 million people with a favourable investment climate,” he said, advising PepsiCo to help farmers with advanced potato seeds for mutual benefits.

According to PepsiCo, the Mathura unit marked the company’s largest greenfield investment in manufacturing in India. It is the company’s first ‘Make and Move’ factory, which will produce Lay’s potato chips brand. “The state-of-the-art plant aligns with the UP government’s industrialisation-led growth agenda,” its press communiqué said.

“India continues to be a strategic market and an engine of growth for PepsiCo in Africa, Middle East, and South Asia (AMESA) region… The plant will implement the best of what PepsiCo has to offer globally in terms of technology, sustainability & diversity, and will contribute to the State’s overall development through employment opportunities and strong Agri-linkages,” PepsiCo CEO, Africa, Middle East, and South Asia, Eugene Willemsen said.

He observed no partnership with India could be complete without collaborating with UP, home to one-sixth of its citizens.

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