PepsiCo one of the most familiar name in beverages, snacks just took one step further and started a new production plant in Multan.
The newly opened facility was inaugurated by Abdul Razzaq Dawood, (Advisor for Commerce, Textile and Production of Pakistan)
Projects Total cost and Jobs created
According to sources, this newly inaugurated plant costs $63 Million appx. resulting in the creation of almost 1550 job opportunities.
Major produce will include Lays and Kurkure which will be supplied both in Pakistan and will be exported to other countries too.
No doubt this newly opened manufacturing concern will promote production capacity by increasing both effectiveness and efficiency. PepsiCo can now enjoy fast and hurdle free access to production fields and agricultural produce.
Abdul Razzaq Dawood aforementioned, that once this city (Multan) was the major center from agriculture. The need of the time was to unleash the true capacity and potential of the city.
He further added that the present Government is eager to facilitate investors from all around the world so that the business sector in Pakistan can grow and the economy is stabilized.
He also highlighted the fact that even due to intense decline in prices of potatoes, PepsiCo gives double the price to their farmers for their produce. Which shows that the company gives priority to their agricultural partners in crunch situation too.
Razzaq added that government will provide full support to the company in the future if PepsiCo has any plans to export its products to countries like Afghanistan, Iran, etc.
On this occasion, Mike Spanos, CEO PepsiCo Asia, Middle East, and North Africa, added that,
“This $63 million investment in Multan is a testament to our commitment to Pakistan. PepsiCo is already working with almost 246 Pakistani farmers to purchase from them only locally-produced potatoes and corn for its products such as Lays and Kurkure. Pakistan has a good environment for investment with future prospects for investors. PepsiCo invested $800 million during the last five years and commits to investing another $1 billion in the next five years”.