PepsiCo India will set up a new beverage plant, poised to be the largest such factory for the company in India, at Sri City industrial park, close to the Andhra Pradesh-Tamil Nadu border.
Coming up on 80 acres, the first phase of the project entails an investment of Rs 450 crore and would be operational by the third or fourth quarter of the next financial year, according to D Shivakumar, the chairman and managing director who took charge 10 days ago.
This is part of a three-phase investment of Rs 1,230 crore in the factory, with the final phase proposed to be completed by 2018, he said.
Chief minister N Kiran Kumar Reddy formally laid the foundation stone for the plant at a function held here on Saturday.
The new plant is also part of the global beverages player’s recent announcement that it was going to make a new investment of Rs 33,000 crore in the country, with its partners, by 2020.
The plant would produce the full range of beverages â€”Â carbonated drinks, fruit-based drinks and sports drinks. Each of the three phases will have a production capacity of around 1.2 million litres a day. (Business Standard)