PepsiCo to help Kazakhstan improve localization of food processing industry

Published Jun 14, 2024

Tridge summary

A meeting between Kazakh President Kassym-Jomart Tokayev and PepsiCo CEO Ramon Laguarta led to the discussion of investing $160 million in constructing a salty snack factory in Almaty Oblast, the largest investment in Central Asia's food processing sector. Scheduled for production in 2026, the factory will initially produce 16,000 tons annually, with plans to expand to 21,000 tons in 2027, catering to the local Kazakh market and potentially exporting to regional markets. The project is expected to create nearly 1,000 jobs during construction and 350 permanent jobs. PepsiCo aims to purchase local raw materials, including potatoes, and will implement environmentally friendly recycling technology. The partnership is seen as significant for the development of agriculture, increasing farmers' income, and diversifying the economy.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The main purpose of the meeting was to promote the implementation of the agreement reached between Kazakh President Kassym-Jomart Tokayev and PepsiCo CEO and Chairman Ramon Laguarta. During the talks, the investment and construction of a factory for salty snacks such as Lay's crispy potatoes in Almaty Oblast was discussed. So far, foreign investors have provided $160 million in foreign investment for the construction of a new factory in Almaty. It is reported that this will be the largest investment project in the food processing sector in Central Asia. The factory is scheduled to be put into production in 2026. After the project is put into production, the annual production capacity will reach 16,000 tons and It will increase to 21,000 tons in 2027. The products produced will meet the local market in Kazakhstan and be exported to Central Asia and other regional markets. During the construction of the project, nearly 1,000 jobs will be provided to the local area. After it is put ...

Source: Foodmate