PepsiCo to invest heavily in China

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PepsiCo has confirmed that it plans to invest in China and aims to fund a variety of major capital programmes in the country.

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The USD$1 billion (£632 million) investment is part of the food and beverage company's strategy to expand into emerging markets.

Indra Nooyi, chief executive officer of PepsiCo, who is in China this week, said: "This is our largest investment in China in the nearly 30 years we have been doing business here, and it is consistent with our broader global strategy of investing in high-growth developing markets."

The company said in a statement that the investments would create thousands of new jobs in China. PepsiCo and its bottling partners directly employ over 22,000 people in China and indirectly provide employment for some 150,000 others.

Research and development facilities will also be expanded within China and the company's sales force will be built up to help boost product distribution.

Part of the company's plans include efforts to promote environmental sustainability and support community-focused programmes in China.

Forbes named PepsiCo among its best big companies this year.