PepsiCo announces US$4 billion investment in Mexico

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GUANAJUATO — PepsiCo Mexico reported on Monday that for the period 2019-2020 will allocate an investment of US$4 billion, which includes the construction of a new food plant, as well as the improvement of their agricultural models.

This new plant will be located in Guanajuato, it will require a total investment of US$109 million and will be under the PepsiCo Alimentos México (PMF) division, the company said in a joint statement with the bottling company and beverage company GEPP.

The plant will the first one in 20 years for the company in Mexico.

"We are proud of our more than 110 years of history in Mexico and we are excited for the next 100. Mexico is our largest operation in Latin America and the second worldwide," said Ramón Laguarta, chairman and CEO of PepsiCo Inc.

The company explained that in addition to the plant, the investment project 2019-2020 includes an agricultural model to improve the production chain of both PMF and the GEPP bottling plant, where they will invest more than US$1 billion in local raw materials.

The company disclosed as well that US$13 million from the total investment will be focused on reducing saturated fats, sugars and sodium in the catalog of its products.

In addition, PepsiCo aims to develop 100% recyclable, biodegradable or returnable containers for 2025.

Source: El Financiero