Beverages and snacks major PepsiCo India on Saturday said it will invest over Rs 1,200 crore to build a new beverage manufacturing facility in Andhra Pradesh.
The company plans to build a new greenfield beverage manufacturing plant in Sri City, Andhra Pradesh, which upon completion will be PepsiCo's largest beverage plant in India, PepsiCo India said in a statement.
"PepsiCo intends to invest more than Rs 1,200 crore in the project, which is part of the recently announced plans by PepsiCo and its partners to invest Rs 33,000 crore in India by 2020," it added.
The company also announced plans to substantially increase sourcing of mango pulp from Andhra Pradesh in the next six years.
Commenting on the development, PepsiCo India Chairman and CEO D Shivakumar said the new beverage facility is a key part of the company's growth plans for the Indian market and "we are delighted to locate it in Andhra Pradesh".
"Sri City is ideally located and offers the perfect opportunity to harness the benefits of superior connectivity, great infrastructure and an ample talent pool, which are the prerequisites for every industry," he added.