The food and beverage giant, Pepsico, will invest USD158.7m in Colombia to modernize a plant and establish another, official sources recently reported. This was announced by the Colombian president, Iván Duque, who expressed the modernization of the plant in Funza, a municipality near Bogotá, and the ‘gigantic investment’ in Guarne, in the department of Antioquia (northwest), to establish ‘the most modern plant in Latin America that PepsiCo has’ and that will generate more than 4,000 jobs.

“The investment comes at times of reactivation in our country, also at times of pandemic, and reaffirms the commitment of foreign investment in Colombia,” the President said.

On October 1, PepsiCo announced that it earned USD5.2bn in the first nine months of its fiscal year, 5% less than the same period of the previous fiscal year, although it had good results in the third quarter supported by its snack brands.