PepsiCo Revives Punjab Citrus Project After Over a Decade

PepsiCo to invest Rs 500 Cr through a partner to set up a soft drink production plant in Pathankot

In a major boost to the current Punjab Chief Minister Amarinder Singh government’s efforts to woo industry into the state, PepsiCo India has decided to revive its citrus project in Punjab, which was stalled by the Akali government, after a gap of more than a decade.

A PepsiCo delegation — led by Chairman & Chief Executive Officer-India Region D Shivakumar and Vice-President (global procurement) V D Sharma — met Singh on Wednesday to discuss major expansion and investment plans in the state.

The delegation showed interest in collaborating with the state government to revive the horticulture project initiated during Singh’s previous tenure. PepsiCo has also shown interest in investing Rs 500 crore through a partner to set up a juice concentrate and soft drink production plant in Pathankot, an official spokesperson said after the meeting. The company, which already has Asia’s largest potato mini tuber lab in Zahura, Hoshiarpur and a bulk storage in the state, has offered technical support to the Congress government to develop Punjab as a premium citrus fruit producing state.

In a presentation, James H Keithly, a US-based horticulture specialist and part of the PepsiCo delegation, unveiled a five-year plan for the production of high-yielding quality processing varieties of citrus plants at Jalowal nursery in Hoshiarpur.

Reference - http://www.business-standard.com/article/companies/pepsico-revives-punjab-citrus-project-after-over-a-decade-117051100046_1.html