(Bloomberg) -- PepsiCo Inc. aims to invest about 5.1 billion rupees ($74 million) for a new snack factory in India, as it tries to double business in the country by 2022.
The investment is planned over three years in the state of Uttar Pradesh, PepsiCo's local unit said in an emailed statement Sunday.
The proposal is in line with PepsiCo's goal to double its snacks business in India by 2022 and is expected to help create more than 1500 direct and indirect jobs, the company said.
To contact the reporter on this story: Jeanette Rodrigues in Mumbai at jrodrigues26@bloomberg.net
To contact the editor responsible for this story: Sam Mamudi at smamudi@bloomberg.net
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