Global food and beverage company PepsiCo has unveiled plans to invest approximately $100m in Egypt this year to enhance its presence in the country.

The investment is said to be part of the company’s plan to invest $515m into the Egyptian market.

The investment will see the addition of new production lines at its subsidiaries including Pepsi Cola Egypt, as well as in Chipsy, to strengthen its presence in the food and beverage markets.

Additionally, the company intends to invest in technologies and sustainable and community development projects.

The company said it will focus on social responsibility programmes in many sectors, most importantly women empowerment and entrepreneurship, as well as contributing to its efforts against the coronavirus impact.

PepsiCo announced its decision during a meeting between PepsiCo Egypt chairman and CEO Mohamed Shelbaya and the General Authority for Investment and Free Zones CEO Mohamed Abdel-Wahab.

Last week, PepsiCo appointed Wern-Yuen Tan as its new chief executive officer for the Asia Pacific, Australia, New Zealand and China (APAC).

Tan will assume the new Singapore-based role on 15 June, reporting to PepsiCo CEO Ramon Laguarta.

Before appointed as the CEO for PepsiCo’s APAC region, Tan served as the president and CEO of Walmart China where he led a team of 100,000 associates, responsible for annual revenues exceeding $10bn.

Tan will succeed Ram Krishnan, who will now be moved to his previously announced role as PepsiCo global chief commercial officer.