The food processing industry in India’s Uttar Pradesh (UP) is set to get a major boost with PepsiCo announcing a Rs 814 crore (approx 11mil US$) project for production of Lay’s potato chips, according to a report by the IANS news agency, published by Daijiworld.com.
The processing plant will reportedly start commercial production by the middle of 2021. The plant is being set up in Kosi, in Mathura district on a 35-acre plot which has been provided by the UP State Industrial Development Authority (UPSIDA).
The company will also be sourcing potatoes as raw product from local sources and thereby helping local farmers. Once ready, the plant will be providing direct and indirect employment to about 1,500 people.
In a statement, Ahmed El Sheikh, Chairman of PepsiCo India said that initially, an investment of Rs 500 crore in this project had been planned for which the company has signed an MoU with UP government during the 2018 Investors’ Summit. However, it had been revised to Rs 814 crore.
PepsiCo has been producing carbonated soft drinks and non-carbonated beverages in UP Since 1990.
Source: IANS via Daijiworld. Original report here