Food and beverage company PepsiCo India has proposed to invest Rs 400 crores in Assam to set up its manufacturing unit in the state.
A delegation of PepsiCo India met Assam Industries and Commerce Minister Chandra Mohan Patowary in Guwahati in this regard.
The team informed the minister that PepsiCo India has submitted a proposal to set up a green field project for manufacturing Lays and Kurkure chips in Assam worth Rs 400 crores.
They said the company would engage in contract farming (buy back policy) whereby it would provide seeds to the farmers and buy back the matured potatoes from them.
The company would also provide handholding support to the farmers.
Currently, PepsiCo India has been working with over 24,000 farmers in 13 states of India.
Patowary assured the team that the government would provide full support and cooperation in successfully setting up the plant. He added that Industries and Commerce department would take initiative with the state Agriculture department so that PepsiCo can directly train the farmers.
The minister instructed the department officials to ensure faster clearances so that the project can be completed at the earliest.
The PepsiCo delegation comprised of Viraj Chouhan, Chief Government Affairs and Communication Officer-India Region; Rahul Sharma, Public Policy and Government Affairs Officer and Nitin Jindal, Associate Director, Business Planning.