Chandigarh: Food and beverages major PepsiCo India has proposed to set up a soft drink making facility in Hoshiarpur district of Punjab with expected investment of Rs 200 crore.
The company has put up an investment proposal with the Punjab government under the state's mega project scheme for its approval which would entitle it to enjoy certain incentives, including stamp duty and electricity duty exemption.
"We have received a proposal from PepsiCo for investing Rs 200 crore on setting up a soft drink facility at Zahura village in Hoshiarpur district," a senior state official said here.
To be spread over 30 acres of land, the state-of-the-art facility would have three production lines for producing beverages, including concentrate.
"The proposed investment will be made by the company in three phases," he said without divulging much information about the ambitious project.
PepsiCo's proposed project would soon be sent for approval to the screening committee headed by state chief secretary. After that it would forwarded to empowered committee chaired by Punjab Chief Minister Parkash Singh Badal, he said.
When contacted PepsiCo officials refused to share details regarding the proposed project in Punjab.
However, PepsiCo India Beverages CEO Praveen Someshwar said, "We are in dialogue with the Punjab government for capacity expansion for beverages manufacture at our existing Zahura site. We will be able to share more details once we get the clearance".
The company currently has research and development facility for potato at Zahura site.
PepsiCo currently has 36 beverage bottling plants, including 13 company owned and 23 franchisee owned, in the country.
Once the proposal gets nod from state authorities, it will be the company's second major project in Punjab after having production facility for potato chips, Lehar Kurkure and Namkeen (salty snacks) under Frito-Lay brand at Channo village in Sangrur district of the state.
Besides, PepsiCo also carries out paddy transplantation under direct seeing methodology for water conservation at several areas in the state.