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PepsiCo prepares US$500m investment for Egypt - report

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PepsiCo is to invest US$500m in Egypt this year to expand production in the country, according to reports.

PepsiCo wants to expand production

PepsiCo wants to expand production

PepsiCo executives outlined the plans at the Egypt Economic Development Conference, Reuters reported on Saturday

Announcing the injection, Omar Farid, PepsiCo's president for the Middle East & Africa, reportedly said: "Egypt is one of the most promising markets around the world. We are sure that this investment will help us to push our business forward.”

PepsiCo operates 11 factories and about 60 distribution centres in Egypt, employing about 10,000 people, according to Farid.

Last year, PepsiCo announced a separate investment in Egypt as its Beyti joint venture looked to plough EGY2.5bn (US$375m) into the country's dairy-based beverage market.


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