MOSCOW, Oct. 18 /PRNewswire/ -- PepsiCo, Inc (NYSE: PEP), one of the world's largest food and beverage businesses, today signed a memorandum outlining plans to invest $140 million to build its tenth plant in Russia, during the plenary session of Russia's Foreign Investors Advisory Council. The memorandum, for a beverage plant, was signed by Indra Nooyi, chairman and CEO, PepsiCo, and Vasily Golubev, governor of the Rostov region, where the plant will be located.
The new plant will be constructed in the city of Azov, where the company recently completed a snack plant. Both plants in Azov are part of PepsiCo's $1 billion investment program in Russia, announced by Ms. Nooyi in 2009. In the previous ten years, PepsiCo invested $3 billion in Russia. Placing both plants on the same property will allow for more efficient logistics and leverage the advantages of production processes and technologies that save water and energy.
"Russia is one of our most exciting growth opportunities, and our $250 million total investment in two plants in the Rostov region reflects our commitment to this key market," said Ms. Nooyi. "Our goal is to build a premier food and beverages company in Russia, and we are actively investing in manufacturing and logistics infrastructure to achieve that. Consistent with our Performance with Purpose vision, we also are broadening our portfolio by adding healthier products, implementing new environmental initiatives and taking steps to support the growth and development of our employees."
Vasily Golubev, Rostov region governor, said: "PepsiCo's decision to double its investment is a clear indication that the Rostov region created a very favorable investment climate for both foreign and Russian manufacturers. Such global companies as PepsiCo, as well as others, have flourished in the region."
About PepsiCo
PepsiCo offers the world's largest portfolio of billion-dollar food and beverage brands, including 19 different product lines that each generates more than $1 billion in annual retail sales. Our main businesses -- Frito-Lay, Quaker, Pepsi-Cola, Tropicana and Gatorade -- also make hundreds of other nourishing, tasty foods and drinks that bring joy to our consumers in more than 200 countries. With annualized revenues of nearly $60 billion, PepsiCo's people are united by our unique commitment to sustainable growth, called "Performance with Purpose." By dedicating ourselves to offering a broad array of choices for healthy, convenient and fun nourishment, reducing our environmental impact, and fostering a diverse and inclusive workplace culture, PepsiCo balances strong financial returns with giving back to our communities worldwide. For more information, visit: www.pepsico.com.
SOURCE PepsiCo, Inc.