Pepsico to Set Up Potato Chips Plant in India With USD111m Investment

PepsiCo is setting up a potato chips production unit in Uttar Pradesh, with an investment of RS814 crore (USD111m), officials recently announced. The greenfield unit is being set up in Kosi, Mathura, on 35 acres of land provided by the UP State Industrial Development Authority (UPSIDA).

PepsiCo India Chairman, Ahmed El Sheikh, said the initial investment in this project was pegged at RS500 crore, which has been revised to RS814 crore. The unit is expected to start commercial production by mid-2021. The company will also be sourcing potatoes, its raw material, from local farmers and thereby helping the local economy. Once ready, the plant will also be providing direct and indirect employment to about 1,500 people.

Infrastructure and Industrial Developmental Commissioner Alok Tandon said: “An MoU (memorandum of understanding) was signed by PepsiCo to set up this project with a proposed investment of RS500 crore at UP Investors Summit 2018.”

He further said that as a result of the MoU tracking, land allocation, and labor-related reforms, a transparent investment system is being established in the state to suit the industries. As a result of this, PepsiCo has increased its investment from RS500 crore to RS814 crore, Tandon added.