Wednesday, October 28, 2020

Business

PepsiCo to set up potato chips plant in UP

IANS | October 13, 2020 12:09 PM

LUCKNOW:The food processing industry in Uttar Pradesh is set to get a major boost with PepsiCo announcing a Rs 814 crore green field project for production of potato chips in Mathura.
The unit will be set up in Kosi area of the district and will 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, its raw material, from local sources and thereby helping local farmers. Once ready, the plant will be providing direct and indirect employment to about 1, 500 people.

Satish Mahana, UP's Industrial Development Minister, said that the project was a reflection of Chief Minister Yogi Adityanath's pro-industry policies.

"Such policies under which the government has implemented business reforms under ease of doing business has made UP a highly attractive state for investments. The result is that many companies like PepsiCo have shown faith in the UP government and are optimistic about investing in the state, " he said.

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.

Infrastructure and Industrial Developmental Commissioner Alok Tandon said that project started with the arrangement of land at the ground breaking ceremony held in July 2019.

"The government has started an extensive exercise of MoU tracking, land allocation and labour related reforms because of which a transparent investment system is being established in UP, " he stated.

Since 1990, PepsiCo has been producing carbonated soft drinks 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 the company is setting up a greenfield project in UP.

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