PepsiCo said on Friday it plans to invest some US$200m a year in the Mexican market over the next five years.

Pepsi executives are reported to have held a private meeting with President Vicente Fox, in which the company promised an investment of US$1.2 billion during Fox's six year term, which ends in 2006.

The company invested US$250 million of that amount last year, Fox's first year in office, PepsiCo said.

PepsiCo has $4 billion in sales annually in Mexico, the company said.