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Pepsico invests $270m in Egypt during 2014: Company MEA president - Daily News Egypt

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Pepsico invests $270m in Egypt during 2014: Company MEA president

Soft drinks and snacks company remains committed to the Egyptian market, president adds


pepsicoPepsiCo’s investments during 2014 registered $270m, with total investments over the past three years totalling $600m, according to PepsiCo President in the Middle East and Africa Omar Farid.

Pepsico remains committed to the Egyptian market, Farid added.

He added that the US mission will make a strong contribution opening a dialogue between executives of American companies with the Egyptian government.

“We have only started to scratch the surface and the best is yet to come,” Farid said

In July, the international company announced it is looking to expand its operations in Upper Egypt and the Delta to increase sales.

General Manager of PepsiCo North East Africa and Egypt Business Unit, Ahmed El-Sheikh, said the company has 51% of the market share for carbonated beverages and savoury snacks in Egypt.

The company employs about 20,000 workers in Egypt, and according to El-Sheikh, there will be an expected rise in employment alongside the company’s expansion in the two regions.

El-Sheikh also said Egypt is the largest of the 10 markets in which the company is located. It has prompted the company to increase the fleet of delivery trucks by 10%-15% to work on the 3,000 production lines located throughout various regions in Egypt.

 

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https://www.dailynewsegypt.com/2014/11/10/pepsico-invests-270m-egypt-2014-company-mea-president/
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