The UP Government has cleared the land possession disputes for PepsiCo’s new plant in the Mathura district, the company will invest more than Rs 500 crore in the proposed plant at Kosi, Mathura through FDI route and create nearly 1,500 direct and indirect jobs.
Earlier, UPSIDC had allotted 36 acres of land to PepsiCo but local farmers had been agitating owing to their long-pending demands and resisting the physical handover of nearly 27 acres, thus delaying to start of the project. Now the issue has been resolved and the company has also started the civil work.
“PepsiCo plans to invest more than Rs 500 crore, other independent ancillary units are estimated to bring an additional investment of Rs 500 crore, thus Rs 1,000 crore in total investment related to the entire potato chips project value chain.”
The company will procure 60,000 tonnes of potato annually from the local farmers for processing in the plant and would be made operational before mid-2021. A PepsiCo spokesperson said.
According to Business Standard, these projects were part of the Rs 4.68 trillion worth of 1,047 MoU signed by the Adityanath government with public and private sector companies at the ‘UP Investors Summit’ in Lucknow on 21-22 February 2018. The Summit was inaugurated by Prime Minister Narendra Modi in the presence of top industrialists viz. Mukesh Ambani, Kumar Mangalam Birla, Adani, etc.
Subscribe to our Daily Newsletter!
