PepsiCo Supports Localization of Food Industry in Kazakhstan

On June 14, 2024, Kazakh Prime Minister Askar Mamin met with David Manghini, President of PepsiCo for Central Asia, Russia, Belarus, and the Caucasus region, in Nur-Sultan.

During the meeting, the two parties had an in-depth discussion on the cooperation agreement reached between Kazakh President Kassym-Jomart Tokayev and PepsiCo CEO Ramon Laguarta. The focus of the discussion was the specific details regarding the investment to build a Lay's potato chip production facility in Almaty region.

The total investment for this project is reportedly $160 million, making it the largest investment in the food processing sector in Central Asia. The factory is planned to commence operations in 2026, with an initial annual capacity of 16,000 tons, gradually increasing to 21,000 tons by 2027. The products will not only meet the domestic demand in Kazakhstan, but also expand to the markets of Central Asia and beyond.

During the construction phase, the project is expected to create nearly 1,000 local job opportunities. Once the factory is operational, it will provide stable employment for 350 skilled professionals. David Manghini stated that PepsiCo will actively source local agricultural raw materials and introduce advanced environmentally-friendly recycling technologies to achieve green production.

Kazakh Prime Minister Askar Mamin expressed high appreciation for this investment, noting that this large-scale project is of great significance for the development of Kazakhstan's agriculture and food industry. He also emphasized that the project will drive the development of related industries such as transportation, logistics, and packaging, with a positive impact on the overall economic growth.

Askar Mamin further stated that the Kazakh government will fully support PepsiCo's investment project in the country, fulfill its obligations to protect the investment, and look forward to establishing a long-term, stable strategic partnership to jointly promote the prosperity of both economies.