PepsiCo plant’s foundation stone laid in Pathankot
Friday, 06/04/2018
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PATHANKOT : Punjab chief minister Capt Amarinder Singh laid the foundation stone of a Rs 600crore plant of PepsiCo India at the Industrial Growth Centre here on Thursday. According to local Congress MLA Amit Vij, who has roped in businessman Ravi Jaipuria whose firm is setting up the plant, it will start operations within the next six months.
Gurdaspur MP Sunil Jakhar, in whose segment the plants falls, said approvals have been acquired by the firm. Vij said, “The state government has given 41 acres of land (for the plant). Till now, industrialists were not keen to set up units here but things will change now. The plant It will not only provide direct and indirect employment to nearly 2,000 people but also enhance the incomes of farmers as they will be entering into contract with the MNC.” He added, “The Industrial Growth Centre was conceived in 1992 and was meant to house more than 250 units. However, due to an assortment of reasons, just a couple of units are functioning now.”
Jaipuria owns RJ Group that holds the bottling business of PepsiCo in north and east India through Varun Beverages. “The setting up of this production facility is in line with our endeavour to strengthen our presence in fast-growing categories,” said Jaipuria, chairman of Varun Beverages. In a Bombay Stock Exchange (BSE) filing, Varun Beverages said the facility will be a first-of-its-kind facility in India to manufacture a complete range of products, including carbonated soft drinks, at a single location. Shares of Varun Beverages were trading 1.11% higher at Rs 644 apiece on BSE on Thursday.
