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PepsiCo Invests 120 Million Dollars in Turkey

: 2016-12-13 Modified date : 2019-05-29

PepsiCo Invests 120 Million Dollars in Turkey
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PepsiCo, for manufacturing food and beverages, announced that it is building its sixth factory for 120 million US dollars in Turkey.

The Prime Ministry Investment Support and Promotion Agency of Turkey (ISPAT) proposed the location for the food factory, which will be established over a 100,000 square meter area in Manisa, in the west of Turkey. The factory will house 35,000 square meters of indoor space.

In this context, Levent Yüksel, PepsiCo General Manager, declared that Turkey is a strategically important market for PepsiCo due to the country's growing economy, sound financial structure, and young labor force.

Levent added that PepsiCo provides employment for more than 43,000 persons across their factories in Turkey.

Levent talked about the importance of Manisa that led them to choose it for their sixth factory: Manisa's organized industrial zone provided highly suitable infrastructure, that there was a qualified labor force in the region, as well as it provides easy access to the Izmir and Antalya markets.

 The plant is scheduled to employ 350 persons in the initial phase and that this number is expected to be increased more than 500 by 2022.

For his part, Arda Ermut, President at Turkey's Investment Support and Promotion Agency (ISPAT), expressed his gratitude to PepsiCo. Moreover, he pointed that the investment decision of such a giant international company in Turkey is an indication of their belief in the future of the Turkey, calling the investors to be confident that the future of Turkey's economy will continue growing.

It is worth mentioning that this project is considered as one of the investments agreed up on after the failed coup attempt on July 15th.

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