US soft drinks and snacks maker PepsiCo Inc plans to invest $100 million in Egypt next year, said a senior official of the company.

Pepsico vice president for global public policy and government affairs, Elizabeth Avery was speaking briefly at a luncheon given by the Business Council for International Understanding in honor of Egyptian Trade and Industry Minister Rachid Mohamed Rachid.

Emerging markets, which are seeing growing urbanization and widening middle classes, are critical to Pepsi and rival Coca-Cola Co, as growth slows in more developed markets.

Coke said earlier this week that it expects emerging markets to contribute 60 per cent of its incremental sales volume growth from now until 2020.-Reuters