Focusing on India as a rapidly growing market, US soft drinks giant Pepsico would

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pump in an estimated Rs 700 crore to set up four new food and beverages projects by 2012.

Just Days after its high-profile global board meeting that was hosted for the first time in the country earlier this month, Pepsico India Chairman Sanjeev Chadha said "going forward, over the next three years, certainly we will be putting up new plants."

Chadha, who took charge as Pepsico India head three years ago, said there would be three greenfield plants on the beverages side. "On the food side, at least there would be one more plant," he said, but did not specify the quantum of investment involved.

He said on an average it costs around USD 30 million to set up a beverages plant and around USD 50-60 million a food plant.

Going by these estimates, Pepsico, whose global operations are headed by India-born Indra Nooyi, may have to shell out around USD 150 million (Rs 700 crore)to set up these plants. The sites for the plants are yet to be finalised.

"We are in the process of searching and identifying, through a network analysis, as to where the location of these plants would be," he added.

Since its entry in India 19 years ago, the company has invested over USD 1 billion in the country. This includes USD 600 million that is being invested.