Pepsico inks MoU with AP govt

The industries and commerce department, Andhra Pradesh, and Pepsico today signed a memorandum of understanding (MoU) for taking up a project to support livelihood of fishermen in the coastal belt of Andhra Pradesh.

The project, to be co-ordinated by the Society for Elimination of Rural Poverty (SERP), will be launched soon.

The MoU was signed by D Nalini Mohan, additional secretary (industries and commerce) and director of biotechnology, and Abhiram Seth, executive director of Pepsico.

Under the new project, fisherwomen would be involved in the cultivation of a sea weed kappaphycus whose derivative carragenan had wide industrial applications as food emulsifier, thickening agent in gellies etc. The weed, cultivated inside the sea on rafts in 45-60 days, would yield $400-500 per tonne.