PepsiCo to invest additional $2.5B in China

NEW YORK (AP) - PepsiCo says it plans to invest an additional $2.5 billion in China in the next three years as the food and beverage maker looks to boost its presence in the growing market.

Money from the additional investment will be used to open 10 to 12 new manufacturing plants, enhance research and development, broaden agricultural development and for brand-building.

PepsiCo previously announced a $1 billion investment in the country that will be completed this year.

The Purchase, N.Y., company currently runs 27 beverage and food plants and five farms in China.