U.S. food and drink maker PepsiCo Inc PEP.O has committed to investing an additional $400 million in Vietnam to build two new plants powered by renewable energy in the country, its government said on Friday.
The announcement came as delegations of more than 60 U.S. enterprises, including Suntory PepsiCo Vietnam Beverage, paid a 3-day work visit to Vietnam this week.
One beverage manufacturing factory will be in southern Long An province and cost over $300 million, and another for food processing will be in northern Ha Nam province with an investment of $90 million, the Vietnamese government said.
The report did not give details on the commissioning time of the two factories.
Late last year the company said it had been granted an investment certificate for the Ha Nam factory, which was scheduled to enter into operation in the third quarter of 2025.
PepsiCo, which runs five factories across Vietnam, entered the country in 1994.
(Reuters)
