Tetra Pak to invest $104 mln more in southern Vietnam facility
Swedish multinational food packaging and processing company Tetra Pak will invest an additional €97 million ($104.3 million) in its packaging material production facility in Vietnam’s southern province of Binh Duong.
The investment will increase the total capacity investment in the site to over €217 million ($233.2 million), Tetra Pak said in a Tuesday statement.
The investment is part of the company’s long-standing plans to expand its production at the Vietnamese site to accommodate increasing demand from the region, Tetra Pak added.
Tetra Pak factory in Binh Duong province, southern Vietnam. Photo courtesy of Tetra Pak.
Tetra Pak’s expansion plans for the Binh Duong facility will include an additional production line which will be fully operational by the third quarter of 2025.
With this expansion, the facility, currently located in Vietnam-Singapore Industrial Park (VSIP) 2 in Binh Duong, will have the capability to produce new and innovative packaging formats.
To manage this additional capacity, the Binh Duong facility will also enhance its workforce, creating additional opportunities for the current staff and those in the surrounding communities, Tetra Pak said.
The expansion forms part of the company’s plans to position the Vietnamese market as a strategic growth engine for the region, the Swedish firm noted.
Eliseo Barcas, managing director and president at Tetra Pak Vietnam stated: “We are pleased to announce the next strategic growth plan at our Binh Duong site in Vietnam. This expansion is a testament of Tetra Pak’s long-standing commitment to Vietnam since we started our operations here 30 years ago. We are confident these changes will not only allow us to serve our valued customers better but also contribute to the economic development of the nation and the region.”
In July 2019, Tetra Pak inaugurated Vietnam's first-ever aseptic carton packaging material factory in Binh Duong province, adding Vietnam to its global supply chain map. As Tetra Pak’s eighth factory in the Asia-Pacific region, this facility can produce aseptic cartons for domestic and export markets in ASEAN, Australia and New Zealand.
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