Coca-Cola Beverages Vietnam Ltd. will build a $136 million factory in the Mekong Delta province of Long An, its fourth and biggest facility in the country so far.
The 19-hectare factory would feature smart, modern technologies and equipment, CEO Peeyush Sharma said at a meeting with Long An authorities late last week.
Located in Ben Luc District's Phu An Thanh Industrial Park, this will be Coca-Cola’s fourth factory in the country, the earlier three in Hanoi, Ho Chi Minh City, and Danang city. The company received an investment certificate for the project in January.
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 transactions will give the firm a leading position in one of the world's fastest growing beverage markets.
Long An is a manufacturing center in southern Vietnam, alongside Ho Chi Minh City, Dong Nai and Binh Duong. The province has 18 operational industrial parks with an occupation rate of 86.85%.
In the first nine months of the year, the IPs lured $665 million in registered capital from 42 foreign direct investment (FDI) projects, according to the Long An Economic Zone Authority.