The plans involve a €36.6m (£31.6m) investment in the expansion of the Little Island site's manufacturing capacity, with the remaining funds set to be spent on the installation of solar panels.
The improved facilities will be dedicated to PepsiCo’s range of beverage ingredients, supporting the increased demand for its existing range of products and allowing the soft drinks giant to rollout its innovation pipeline to a greater number of people.
Meanwhile, the €2.4m (£2.1m) solar panel installation project will significantly reduce the amount of electricity consumed at the site. The project is expected to be completed during Q4 of 2023.
The announcement follows the completion of a €127m (£109.7m) investment in the same site and nearby R&D facilities earlier this year.
PepsiCo Ireland also confirmed that it has around 100 job vacancies at its Cork facility that it is looking to fill. The Little Island site produces concentrate for brands including Pepsi, Pepsi Max, Gatorade, 7Up and Mountain Dew.
‘Proud of 50 years in Cork’
PepsiCo’s Little Island site director, Brian Colgan, said that the firm was “proud” to be approaching its 50-year anniversary in Cork, while declaring his passion for the benefits that the financial commitment would bring to Little Island and the wider region.
“This latest investment will provide additional capacity for the markets we serve, enhance production capability, and further reinforce the strong sustainability credentials of our site in Little Island,” Colgan added.
Echoing the words of Colgan, Irish minister Simon Coveney TD said: “This latest multi-million euro investment by PepsiCo, the second this year, reinforces its commitment to Ireland and to Cork. The company’s positive impact on the Irish economy since it first established a presence here in 1974 is hugely significant.”