PepsiCo has announced plans to invest nearly $4bn in Mexico over the next two years to expand its footprint in the region.

The investment will see the construction of a new production plant in Guanajuato, as well as improving infrastructure, agricultural models, sustainability initiatives and community development programmes.

PepsiCo board chairman and CEO Ramón Laguarta said: “We are proud of our more than 110 years of history in Mexico and we are excited for the next 100.

“Mexico is our largest operation in Latin America and our second largest worldwide. It is an honour for us to have a positive impact at all levels of the country’s economy, from the countryside to the corner stores in each location.”

“Mexico is our largest operation in Latin America and our second largest worldwide.”

The investment is expected to create nearly 3,000 employment opportunities in the region.

Built with an investment of $109m, the Guanajuato plant will be PepsiCo’s first in Mexico in two decades. It is expected to begin operations in 2025.

By collaborating with its local partner Grupo Gepp, PepsiCo intends to improve agricultural practices in the country with an investment of around $1bn.

The funds will be used to improve raw material sourcing of potatoes, corn and sugar. The Agricultural Development Center will also be renovated to improve the supply of potato seeds.

PepsiCo intends to increase the use of clean energy for its operations to reduce carbon emissions. The company also plans to dedicate $13m to decrease saturated fat in its products.