PepsiCo has announced plans to open a new factory in Russia. The soft drinks giant confirmed this week that it is to invest over US$10m in a new facility in the Parnas area of St Petersburg, with a planned area of 17,500 square metres.

Alexander Shalnev, vice-president of Pepsi Bottling Group Corp., said earlier this week that the company is planning to implement the project with a view to expanding its activities in the St Petersburg market. Further details will not be disclosed, however, until the Investment and Tender Commission decides whether or not to allot an area of land to the project.

St Petersburg is located in European Russia, near the border with Finland.