PepsiCo and Indian state govt ink MoU to boost fruit processing
US-based PepsiCo has inked a Memorandum of Understanding (MoU) with the Indian state government of Maharashtra to build fruit processing plants in the territory.
Signing of MOU with PepsiCo and Maha govt. Photo: @Dev_Fadnavis
"This MOU will unlock the fruit processing potential and promote horticulture in the state," chief minister Devendra Fadnavis tweeted.
The beverage behemoth will be investing 1.8 billion rupees (US$26 million) with its partners to set up processing facilities for oranges, mangoes, pomegranates and more, according to Fadnavis.
The plants will be used to mix the fruit juice in PepsiCo's carbonated drinks.
The world’s largest snack food maker is expected to set up three of these units in the state, though the locations have not been finalized, Dnaindia.com reported.
"Food and beverages localization is very important. We already have a plant Citrus International in Nanded, Maharashtra and we continue to invest in it so that we use a lot more of the local fruits in our product," local reporters quoted PepsiCo India Chairman and CEO Shiv Shivakumar as saying.
Photo: Shutterstock
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