The world’s leading food and beverage company PepsiCo opened its first overseas “green” plant in China in the western city of Chongqing. According its ongoing strategy to expand in emerging markets and broaden its portfolio of locally relevant products, the company plans to invest $1 billion in the country.
Later over the nest 2 years PepsiCo expects to open five new beverage manufacturing plants in China – in Kunming, Zhengzhou, Quanzhou, Lanzhou and Nanchang.
It also plans to invest to strengthen its local research and development capabilities and broaden its portfolio of Chinese-designed and developed products such as Tropicana Guo Bin Fen juices, Lay’s Lychee potato chips and Cao Ben Le drinks, which are inspired by traditional Chinese medicine.
“Despite the current uncertainty in many parts of the world, we have no doubt that China will remain a powerful engine of global economic expansion,” said Indra Nooyi, PepsiCo chairman and chief executive officer. “This is the largest, most ambitious development effort we’ve undertaken in our more than 25 years of doing business here.”