Investment flows into UP; Adani to invest Rs.70,000 cr, PepsiCo to invest Rs.186 cr
Uttar Pradesh has bagged investments worth thousands of crores in its third Ground Breaking Ceremony that took place today.
Billionaire industrialist Gautam Adani-led Adani Group is set to invest in deals worth Rs.70,000 crore which will generate 30,000 jobs in Uttar Pradesh. Adani group further added that it will be investing Rs.24,000 crore in developing road and transport infrastructure in the state. Moreover, another Rs.35,000 crore will be put into the multimodal logistics and defence sectors.
On the other hand, PepsiCo has announced expansion plans for its largest greenfield foods manufacturing plant that produces the immensely popular Lay’s potato chips in Kosi Kalan, in Mathura.
As part of its expansion plan, PepsiCo India will increase the capacity of the state-of-the-art foods plant, by setting up a new manufacturing line that will produce one of the world’s leading nacho chip brand Doritos.
The company is all set to further invest Rs.186 crore for the expansion of its foods manufacturing facility in Mathura, taking the overall investment to Rs.1022 crore in Uttar Pradesh, the company stated in a presser.
Ahmed Elsheikh, President, of PepsiCo India said, “The state-of-the-art facility is fuelling the economic ecosystem and creating job opportunities in UP. Given the tremendous response, we are happy to further raise our investment by Rs.186 crore in the state.”
Earlier today, Prime Minister Narendra Modi laid the foundation stone of 1,406 projects worth more than Rs.80,000 crore in the state. These projects encompass diverse sectors like agriculture and allied, IT and electronics, MSME, manufacturing, renewable energy, pharma, tourism, defence & aerospace, handloom & textiles, etc.
The first Ground Breaking Ceremony was held on 29 July 2018 and the second Ground Breaking Ceremony on 28 July 2019. During the first Ground Breaking Ceremony, the foundation of 81 projects worth more than Rs.61,500 crore was laid, while in the second Ground Breaking Ceremony, the foundation of 290 projects with investments of more than Rs.67,000 crore was laid.
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