PEPSICO establishes new facility in VSIP Bac Ninh

PepsiCo, the world’s second largest food and beverage business, today signed an agreement with the VSIP Bac Ninh to confirm its development of a $73 million beverage production plant in the VSIP Bac Ninh integrated township and industrial park.

PepsiCo will produce carbonated and non-carbonated beverages, namely its popular brands of Pepsi, 7-up, Mirinda, Aquafina, Sting, Twister and Lipton, at this coming facility.

The signing ceremony was witnessed by the Prime Ministers of Vietnam and Singapore, Nguyen Tan Dung and Lee Hsien Loong. The signing took place during the sidelines of the ASEAN Leaders Summit in Hanoi.

The VSIP Bac Ninh facility will be PepsiCo’s largest production plant in Vietnam and one of two largest PepsiCo facilities in Southeast Asia. PepsiCo has recently pledged to invest $250 million in Vietnam over the next three years from 2011, bringing its total investment to over $500 million since 1994 when PepsiCo products were first launched in Vietnam. The new investment will be allocated to a variety of projects, including increasing manufacturing capacity with its VSIP Bac Ninh facility, adding marketplace equipment like coolers, further strengthening existing brands and broadening the company’s product portfolio via innovation with lots of health and wellness initiatives.

The VSIP Bac Ninh integrated township and industrial park is the third installment of the successful Vietnam Singapore Industrial Park (VSIP), which is a joint venture between a consortium of Vietnam companies and a Singaporean consortium led by Sembcorp Industrial Parks.

“PepsiCo’s investment in VSIP is a strong endorsement for the VSIP’s compelling value proposition to foreign investors in providing them a world-class business environment. This is also affirmation of the joint efforts by Vietnam and Singapore in making the VSIP a success.”

First established in 1996, VSIP now consists of four integrated townships and industrial parks located in southern Binh Duong, northern Bac Ninh provinces and Haiphong city. The VSIP projects have attracted more than 400 companies and created 65,000 jobs, making VSIP one of the most successful examples of Vietnam-Singapore joint collaborations. – VIR

Tags: Pepsi Vietnam, PEPSICO

Posted by VBN on Oct 29 2010. Filed under Food & Beverage. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry