|20 February, 2020

PepsiCo invested $3bln in Saudi Arabia in 7 years

PepsiCo has created about 8,000 jobs

Bottles of Pepsi are pictured at a grocery store in Pasadena, California, U.S., July 11, 2017. REUTERS/Mario Anzuoni.

Bottles of Pepsi are pictured at a grocery store in Pasadena, California, U.S., July 11, 2017. REUTERS/Mario Anzuoni.

Riyadh – Mubasher: PepsiCo and its Saudi partners invested about SAR 11.4 billion in the GCC kingdom during the last seven years, the company’s chairman and CEO Ramon Laguarta revealed.

The leading beverages company is looking to increase these investments by SAR 6 billion over the coming five years, he added on Wednesday, according to a tweet by the Saudi Arabian General Investment Authority (SAGIA).

Over its presence for over 60 years in the Saudi market, PepsiCo has created about 8,000 jobs with a Saudisation rate of 40%, he pointed out.

Source: Mubasher

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