LONDON, May 27 (Reuters) - Yum Brands' ( YUM ) KFC ( YUM ) plans

to invest 1.49 billion pounds ($2.0 billion) in Britain and

Ireland over the next five years, creating over 7,000 jobs

within its business and across its supply chain, it said on

Tuesday.

The fried chicken fast food chain, which currently

operates over 1,000 outlets across the UK and Ireland, employing

30,000, said it planned to open a further 500 outlets over the

next decade.

Of the 1.49 billion pounds, 466 million pounds will go

towards opening the new outlets and upgrading 200 existing

sites, while 583 million pounds will be invested in new jobs,

the company said.

KFC ( YUM ) said the UK's appetite for fried chicken was growing,

with the market estimated to be worth 3.1 billion pounds.

"The market is only expected to grow further, with consumer

demand for fried chicken outstripping other quick service

restaurant categories," it added.

($1 = 0.7390 pounds)