Pepsi to invest US

Pepsi Co Inc announced recently to invest US$100 million in Songjiang Food Factory to upgrade the production and packaging systems.

The investment is set to transform the factory into a modern food production base, with two more chips production lines of 2.3 tons of annual production capacity and the introduction of advanced packaging technology.

The project is to kick off in October and will finally be put to use in 2020. The annual sales are expected to hit 7.26 billion yuan (US$1 billion) upon completion.

It will also create more than 1,000 jobs.

Pepsi is one of the earliest cross-border enterprises to develop in China. Over the past decade, the investment it has made in China along with its partners has exceeded 48 billion yuan.