Suntory PepsiCo Vietnam Beverage Company plans to invest $38.8 million more in its factory in the southern city of Can Tho to build new production lines for purified water and tea.
The company, a joint venture established in 2013 by PepsiCo Inc. and Suntory Holdings Limited, has been granted an investment adjustment certificate by Can Tho authorities.
The firm is scheduled to put the tea production line into operation in the second quarter of 2024 and the purified water production line in the last quarter the same year.
The factory was granted an investment registration certificate in 2008 with an initial investment of $15 million. After various adjustments, the registered capital has been raised to $70.8 million. The 70-hectare plant began operations in 2010 and has an annual capacity of 652 million liters.
Suntory PepsiCo Vietnam's popular products in Vietnam include energy drink Sting, soft drinks Pepsi and 7Up, O Long TEA+, Lipton, purified, among others. It was among the top foreign-invested tax payers in Vietnam in 2021, according to the General Department of Taxation.
The beverage giant now has factories in Ho Chi Minh City, Can Tho city, Quang Nam, Bac Ninh, and Dong Nai provinces. The newest factory in the central province of Quang Nam has an annual capacity of 850 million liters and investment of $56 million, and was inaugurated in June 2017.