PepsiCo said on May 21 that it would invest $2.5 billion in China over the next three years in new plants, research facilities and promotional activities.
The money is in addition to the one billion dollar investment the drinks maker announced in 2008, which will be completed this year, the company said.
"This investment reflects very clearly our great confidence in China and our long-term commitment to this very important, growing market," CEO Indra Nooyi said.
Nooyi was in Shanghai attending the World Expo, where PepsiCo is sponsoring the USA Pavilion.
PepsiCo plans to add 10 to 12 new plants -- mainly in interior and western provinces -- to its 27 existing manufacturing facilities.
It also plans to increase its range of Chinese-designed and developed products, the company said.
Pepsi's rival Coca-Cola announced last year that was investing two billion dollars in China over three years to dramatically increase its presence in the world's largest market.
Copyright Agence France-Presse, 2010
