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Russia is PepsiCo's third-largest market by net revenue
/NOVOSTIVL/ PepsiCo has embarked on the construction of a new snacks factory in Russia. The US giant said the facility, located in the eastern city of Novosibirsk, would be its third snacks plant in the country.
PepsiCo said the first two lines at the plant will start operating at the end of next year, manufacturing Lay's crisps and KhrusTeam croutons. The factory will have a capacity of more than 60 thousand tons.
Alongside the construction of the new plant, PepsiCo said it would invest in the local agriculture sector to build a supply of local potatoes for the facility. The new plant is expected to create 900 jobs, PepsiCo said. It is already present in Novosibirsk with a dairy manufacturing facility.
Russia is PepsiCo's third-largest market by net revenue. According to PepsiCo's 2019 annual report, the company's net revenues in Russia were US$3.26bn, up from $3.19bn a year earlier. The group said its snacks volumes grew at a "low-single-digit" rate. Drinks volumes were down at a "mid-single-digit" rate.