U.S. food and beverage giant PepsiCo has committed to investing an additional US$400 million to build two new plants powered by renewable energy in Vietnam, its government said.
The announcement came last Friday as delegations of more than 60 U.S. enterprises, including Suntory PepsiCo Vietnam Beverage, paid a 3-day work visit to Vietnam last week.
The Vietnamese government said 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 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 start operating in the third quarter of 2025.
PepsiCo, which runs five factories across Vietnam, entered the country in 1994.