PepsiCo has officially inaugurated its manufacturing plant in Multan. Abdul Razzaq Dawood, the Advisor for Commerce, Textile, Industry, and Production, and Investment of Pakistan inaugurated the manufacturing facility.
The project is worth $63 million that will open almost 1500 direct and indirect job opportunities. The strategic location of the plant is near PepsiCo’s agricultural partners.
The potato plant will manufacture and later supply chips like Lays and Kurkure for Pakistan. These snacks can be exported as well.
The plant will not just enhance the efficiency and production capacity of PepsiCo but also provide jobs to the unemployed or underemployed members of the society.
Dawood said that Multan is the center of agriculture and there is huge potential for investment in the area. The government wishes to facilitate the investors so that they can develop their business, take part in export and contribute effectively to the Pakistani economy.
CEO PepsiCo Asia, Middle East, and North Africa Mike Spanos was also present at the occasion.
He said, “This $63 million investment in Multan is a testament to our commitment to Pakistan. PepsiCo works with 246 Pakistani farmers to purchase only locally-grown potatoes and corn for its products such as Lays and Kurkure. Pakistan has a good environment for investment with future prospects for investors. PepsiCo invested $800 million during the last five years and commits to investing another $1 billion in the next five years.”