New Delhi: PepsiCo Inc. aims to invest about Rs5.1 billion (Dh271 million or $74 million) for a new snack factory in India, as it tries to double business in the country by 2022.

The investment is planned over three years in the state of Uttar Pradesh, PepsiCo’s local unit said in an emailed statement Sunday.

The proposal is in line with PepsiCo’s goal to double its snacks business in India by 2022 and is expected to help create more than 1500 direct and indirect jobs, the company said.