PepsiCo Egypt to Invest $100 Million in New Production Lines

Mohamed Abdel-Wahab, the Chairman of the General Authority for Investment & Free Zones held a meeting on Sunday with Chairman and CEO of PepsiCo Egypt Mohamed Shelbaya to discuss the group's investment plans during the current phase.

The new investments include the expansion of production lines for the two subsidiaries of the group, Pepsi and Chipsy Food industries, as well as investments in technology, sustainable development, and community development projects.

Abdel-Wahab said that the meetings carried out by the General Authority are part of an action plan with existing companies, who seek expansion in the country. The meeting also came to discuss their future investment plans and remove any barriers they may face, indicating that the private sector is the main driver of the national economy, maintaining high growth rates.

During the meeting, Abdel-Wahab presented the investment opportunities available to PepsiCo and its subsidiaries in the investment areas and the authority's free zones, within the framework of encouraging the company to become regional center for the group's business in the North Africa region.

On his part, Shelbaya praised the cooperation of the Authority in light of the government's interest and keenness to complete the steps of economic reforms that have achieved effective positive results before the global epidemic crisis, making the national economy flexible and able to absorb sudden fluctuations.

He added that the return of the production wheel will be at full capacity as life returns to normal, while applying precautionary measures to ensure the safety of employees.

PepsiCo invests in cultivation, women empowerment and entrepreneurship

He affirmed that PepsiCo considers Egypt one of the strategic markets that has received attention since its  operation more than 70 years ago, noting that the company is committed to pumping investments amounting to $515 million in the Egyptian market in the period from 2018-21, including $100 million during the current year.

In addition, the company is focusing on bringing the latest technologies to production lines and implementing a pioneering cultivation program that is the second at PepsiCo's global level, as well as directing strong interest to social responsibility programs to create added value in many sectors, especially women empowerment and entrepreneurship, as well as contributing to face the repercussions of the coronavirus in the health and community sectors.