Coca-Cola Beverages Vietnam Ltd. organized Friday a groundbreaking ceremony for its $136 million factory in the Mekong Delta province of Long An, its biggest in Vietnam.
Located in Phu An Thanh Industrial Park in Ben Luc district, the plant has an annual capacity of one billion liters.
The 19-hectare facility, the fourth one in Vietnam, will apply smart technology toward a green and circular model, said Coca-Cola Vietnam CEO Peeyush Sharma.
The construction features two phases. Phase 1 in the 2022-2027 period will build six production lines covering 30% of the project area. Phase 2 involves the years 2027 to 2039.
The project received an investment certificate within the day of submission and a construction licence within three days after all legal documents were submitted, said Nguyen Van Ut, Chairman of Long An province.
At the ceremony, Deputy Minister of Planning and Investment Tran Duy Dong lauded the project and Coca-Cola’s long-term investment in Vietnam as a reflection of the country and Long An's strong attraction of foreign direct investment amid the global shift and diversification of supply chains.
Coca-Cola has invested over $1 billion in Vietnam since 1994, becoming the biggest foreign beverage investor in the country.
In July, Swire Pacific Ltd. acquired Coca-Cola Company's bottling operations in Vietnam and Cambodia for $1.02 billion, marking the Hong Kong major’s first foray into the Southeast Asian beverage market.
Swire said the buyer was its wholly-owned subsidiary Swire Coca-Cola, and the transaction would give the firm a leading position in one of the world's fastest growing beverage markets.