PepsiCo to invest $500 million in Egypt over 4 years

PepsiCo Egypt is discussing with its U.S. parent company a plan to invest up to $500 million in Egypt over the next four years.

Mohamed Shelbaya, Chairman and CEO of PepsiCo Egypt, told Amwal Al Ghad that the company is expected to announce the new investment within the second half of the year.

The new investment will finance several plans for PepsiCo Egypt, including the launch of chips factory, another for beverages, expansion in buying more agricultural lands, and development of technological infrastructure, Shelbaya said.

“The ongoing global situation was the main reason behind the delay in the announcement of PepsiCo’s Egyptian investments. We need to study the market very thoroughly; besides investors now need more government facilitations,” Shelbaya added.