ICEC

PepsiCo Egypt set to invest $ 515 mn in 4 years

PepsiCo Egypt is planning to invest $ 515 million in the local market over the next four years, including $ 16  million to develop its beverage production lines, its chairman and CEO Mohamed Shelbaya.

PepsiCo also plans to upgrade its fleet and distribution centers and will expand the domestic cultivation of its agricultural raw materials.

The 2018-2021 investment plan depends on three pillars namely  investment in technology, the agricultural sector, social responsibility programs and the human element, as the company considers Egypt among the region’s top markets, the CEO added,

He also noted that between 2014 and 2017, PepsiCo’s investments in the Egyptian market totalled $660 million.

PepsiCo has “invested in Egypt every year regardless of the difficulties” since the US-based company first brought its business to Egypt 70 years ago, Shelbaya said.

“We want to be ready to jump on opportunities once conditions improve, rather than wait to invest and struggle to catch these windows,” Shelbaya added,

The food and beverage sector is expected to grow at a 16%  this year, he noted.

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