By: Eslam Fadl

Cairo - Mubasher: PepsiCo Egypt plans to pump $515 million in new investments over the next four years, its chairman and CEO Mohamed Shelbaya revealed.

Shelbaya told Mubasher that $16 million will be directed to the beverages sector's production lines to enhance its competitiveness in the Egyptian market.

The 2018-2021 investment plan depends on three pillars, investment in technology, the agricultural sector, and the human element, as the company considers Egypt among the region’s top markets, the CEO added, noting that between 2014 and 2017, PepsiCo's investments in the Egyptian market totalled $660 million.

Meanwhile, international cooperation and investment minister Sahar Nasr discussed new opportunities with a delegation that gathered representatives of 44 companies from the United States.

Nasr stressed that the government seeks to support private sector investments as a drive for a strong growth and job creation, as the country undergoes economic reforms.

She also praised the recent expansions by American companies, including Pepsico that is set to further increase its portfolio in Egypt.