Pepsico Establishes New Facility In Northern Vietnam’s VSIP Bac Ninh
October 28, 2010
Issued by Vietnam Singapore Industrial Park
- Signing ceremony witnessed by Vietnam Prime Minister Nguyen Tan Dung and Singapore Prime Minister Lee Hsien Loong
PepsiCo, the world's second largest food and beverage business, has signed an agreement with the VSIP Bac Ninh Co. Ltd, to confirm its development of a US$73 million beverage production plant in the VSIP Bac Ninh Integrated Township and Industrial Park. PepsiCo will produce carbonated and non-carbonated beverages, namely its popular brands of Pepsi, 7-up, Mirinda, Aquafina, Sting, Twister and Lipton, at this upcoming facility.
The signing ceremony was witnessed by the respective Prime Ministers of Vietnam and Singapore, Their Excellencies Mr Nguyen Tan Dung and Mr Lee Hsien Loong. The signings took place during the sidelines of the ASEAN Leaders Summit in Hanoi. The Bac Ninh People’s Committee earlier also awarded PepsiCo International Vietnam Company with an investment certificate to support its expansion in Vietnam.
The VSIP Bac Ninh facility will be PepsiCo’s largest production plant in Vietnam and one of two largest PepsiCo facilities in Southeast Asia. PepsiCo has pledged to invest US$250 million in Vietnam over the next three years from 2011, bringing its total investment to over US$500 million since 1994 when PepsiCo products were first launched in Vietnam. The new investment will be allocated to a variety of projects, including increasing manufacturing capacity with its VSIP Bac Ninh facility, adding marketplace equipment like coolers, further strengthening existing brands and broadening the company's product portfolio via innovation with lots of health and wellness initiatives.
The VSIP Bac Ninh Integrated Township and Industrial Park is the third installment of the successful Vietnam Singapore Industrial Park (VSIP), which is a joint venture between a consortium of Vietnamese companies and a Singaporean consortium led by Sembcorp Industrial Parks. Sembcorp Industrial Parks’ Executive Chairman, Ms Low Sin Leng, who is concurrently the Co-Chairman of the VSIP Group, signed the agreement with Mr Chandrashekhar Mundlay, the President and General Director of PepsiCo International Vietnam Company.
Said Ms Low, “PepsiCo’s investment in VSIP is a strong endorsement of the VSIP’s compelling value proposition to foreign investors in providing them a world-class business environment. This is also affirmation of the joint efforts by Vietnam and Singapore in making the VSIP a success.”
First established in 1996, the VSIP now consists of four integrated townships and industrial parks located in Binh Duong, Bac Ninh and Hai Phong City. The VSIP projects have attracted more than 400 companies and created 65,000 jobs (from operational tenants) to date, making VSIP one of the most successful examples of Vietnam-Singapore joint collaborations.
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For media enquiries, please contact:
Sembcorp Parks Management Pte Ltd
Ms Mary Ann Chan
Senior Manager, Corporate Relations
Tel: +65 98628363
Email: [email protected]
Mr. Tran Vu Nguyen
Corporate Communications Consultant
Tel: +84 838219437 / +84 903394896
Email: [email protected]
About Vietnam Singapore Industrial Park (VSIP)
The VSIP is commercially managed by Becamex IDC, a Vietnam state-owned enterprise, and Sembcorp Industrial Parks, a wholly-owned business unit of Singapore’s Sembcorp Industries. Groundbreaking for the VSIP Bac Ninh was held in December 2007. The 700-hectare development combines 500 hectares of industrial space with 200 hectares of commercial and residential space. The four VSIP integrated township and industrial park projects in Binh Duong, Bac Ninh and Hai Phong City total 4,845 hectares and is home to multinational companies from 22 countries and territories.
PepsiCo offers the world's largest portfolio of billion-dollar food and beverage brands, including 19 different product lines that each generates more than $1 billion in annual retail sales. Our main businesses - Frito-Lay, Quaker, Pepsi-Cola, Tropicana and Gatorade - also make hundreds of other nourishing, tasty foods and drinks that bring joy to our consumers in more than 200 countries. With annualized revenues of nearly $60 billion, PepsiCo's people are united by our unique commitment to sustainable growth, called Performance with Purpose. By dedicating ourselves to offering a broad array of choices for healthy, convenient and fun nourishment, reducing our environmental impact, and fostering a diverse and inclusive workplace culture, PepsiCo balances strong financial returns with giving back to our communities worldwide. For more information, please visit www.pepsico.com.