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Drinks and snack company PepsiCo Inc. planning to build a Frito Lay chips plant in the Rostov region in southern Russia, newspaper Vedomosti reported Wednesday.
A representative of the local administration confirmed negotiations with PepsiCo Inc. and estimated the project at more than $100 million, Vedomosti said. A Pepsi spokesman in Russia confirmed to the paper the company's interest in the south of the country, saying that: „the region is convenient in terms of logistics and availability of raw materials.” Pepsi currently has six drinks and snack plants in Russia and is already building a seventh. (marketwatch.com)