PepsiCo plans to become Russia's major food and beverages producer by 2015, PepsiCo's Eastern Europe region President Ramon Laguarta said on Thursday.

He said the company's growth on the Russian market dropped to single digits in 2009. The dynamics of revenues and sales growth were also sluggish.

"Last year, we achieved $2 billion in sales in Russia," Laguarta said at the St. Petersburg International Economic Forum.

In 2010, the company expects a double-digit sales growth, he added. At the same time PepsiCo is not planning any noticeable increase in prices this year.

"It all depends on the market situation," Laguarta said.

He also confirmed PepsiCo's plans to invest $1 billion over the next three years to develop the company's business in Russia. The funds will be allocated towards the development of production, logistics, and product promotion.

ST. PETERSBURG, June 17 (RIA Novosti)