An investment worth US $ 64 million has been pledged by Pepsi Cola to increase production in the Uruguayan free trade zone of Colonia del Sacramento on the River Plate's East bank.
The local branch of Pepsico, called Pepsi Cola Manufacturing Company of Uruguay, explained output was planned to grow by 60% with the new development.
Uruguay's Industry, Energy and Mining Minister Omar Paganini, and Pepsico's CEO for Latin America Paula Santilli, gave a press conference Thursday after a meeting with President Luis Lacalle Pou to make the announcement.
The Uruguayan Government highlighted the trust placed in the country by large companies such as Pepsico, which has a direct impact on people's lives. Uruguay is positioning itself well after the pandemic to continue its development and growth, Paganini pointed out.
Santilli highlighted the importance for the company of the concentrates plant in Uruguay, from where it is exported to 21 countries in the region and other world markets. From Colonia the magic of our beverages goes out to all of Latin America, she said.
She also referred to the quality of employment generated with this investment, which will expand its industrial area by 6,000 square meters and which will result in 60% more production capacity. In addition, the Pepsico plant in Colonia will continue to use state-of-the-art technology serving the goals of the global sustainability agenda, it was reported.
Among the factors that influenced the choice of Uruguay when establishing the investment, Santilli highlighted the country's legal stability and confidence in the current management. I personally thanked Lacalle Pou for this stability and framework that gives us security like never before, she stressed.
Pepsico has been present in Uruguay for more than 60 years through its food, beverage and concentrates business units. The company delegation that met with the president was also made up of the head of the concentrates plant, Martín Chacin, and the company's financial manager, Mario Maneyro.
Pepsico has eight concentrate plants worldwide, which produce the main input for the preparation of the carbonated beverages; the one installed in the free zone of Colonia is the one supplying all of Latin America.
The factory, which employs about 200 people directly and another 200 indirectly, has been operating in the country for 30 years and is the main exporter of the Colonia free trade zone, which represents 6% of the country's total sales abroad, according to a recent report.
Through the agreement signed in 2020 with the Ministry of Economy and Finance and the Continental Free Zone Group, Pepsico has committed its presence in the area for another 20 years and, in return, will specify its expansion plans with the corresponding increase in jobs.
In addition to the concentrates unit, the company has a food production plant in the country and, in association with the National Beer Factories (FNC), a bottling plant. All items considered, Pepsico direct jobs amount to 800 and indirect jobs to about 8,000.