Foundation stone of proposed unit in Gorakhpur laid by CM Yogi Adityanath: Varun Beverages

New Delhi [India], April 8 : Varun Beverages, all India franchisee of PepsiCo, on Saturday said Uttar Pradesh's Chief Minister Yogi Adityanath laid the foundation stone of its proposed manufacturing plant in Gorakhpur, Uttar Pradesh, with a total capital outlay of Rs 1,100 crore, subject to necessary approvals.

Varun Beverages had been allotted land in Gorakhpur, Amethi, Prayagraj and Chitrakoot through fast-track mode for setting up their units for producing carbonated soft drinks, fruit pulp or juice-based drinks.

The company has proposed to invest Rs 3,740 crore in total in all four plants with about 5,650 expected job opportunities.

Meanwhile, on Wednesday, SunSource Energy announced commissioning of a 9 MW solar project for Varun Beverages, PepsiCo's largest franchise bottler, in Uttar Pradesh. The project commissioned is part of its 45 MW open access solar project in the state.

Varun Beverages shares rallied 4 per cent intraday to hit a record high of Rs 1,474 on Wednesday.

According to BSE, shares of Varun Beverages closed at Rs 1,396.95 apiece on Thursday. The stock went up 3.60 per cent in the past five days. According to data, more than Rs 60 crore worth of shares of the company changed hands in a block trade.