PepsiCo - the world-renowned international food, snacks, andbeverage company - is set to open a potato chips plant in Uttar Pradesh.
The action will boost the food processing industry in thestate. The project is greenfield and the investment will be around Rs 814crore.
The installation will be set up in Kosi area of Mathuradistrict, and the production is expected by the middle on 2021.
A 35-acre plot has been provided by the UP State IndustrialDevelopment Authority (UPSIDA).
The good news for the local potato farmers is that theproduct’s raw material, potatoes, will be sourced from them.
Satish Mahana, UP's Industrial Development Minister, saidthat the project was a reflection of Chief Minister Yogi Adityanath'spro-industry policies.
"Such policies under which the government hasimplemented business reforms under ease of doing business has made UP a highlyattractive state for investments. The result is that many companies likePepsiCo have shown faith in the UP government and are optimistic aboutinvesting in the state," he said.
In a statement, Ahmed El Sheikh, Chairman of PepsiCo Indiasaid that initially, an investment of Rs 500 crore in this project had beenplanned for which the company has signed an MoU with UP government during the2018 Investors' Summit. However, it had been revised to Rs 814 crore.
Infrastructure and Industrial Developmental Commissioner AlokTandon said that project started with the arrangement of land at the groundbreaking ceremony held in July 2019.
"The government has started an extensive exercise ofMoU tracking, land allocation and labour related reforms because of which atransparent investment system is being established in UP," he stated.
Since 1990, PepsiCo has been producing carbonated softdrinks and non-carbonated beverages in UP through franchisee.
These units are functioning in Greater Noida, Kosi,Sathria-Jaunpur, Kanpur Dehat and Hardoi. This is the first time that thecompany is setting up a greenfield project in UP.