PepsiCo is set to invest around $90m in building a new facility in Vietnam for snack production.
The new factory will be built in Dong Van I Expanded Industrial Park in the Ha Nam province, covering a total area of 80,000 square metres. The project will supply more than 23,000 tonnes of PepsiCo snack brands per year to the Vietnamese and Cambodian markets.
Construction will commence towards the start of 2024 and is expected to finish by the second half of 2025.
The Doritos brand owner employs around 13,000 people across 14 plants and distribution centres in Vietnam.
Nguyen Viet Ha, general manager of PepsiCo Foods in Vietnam, said: “Despite the general economic difficulties after the Covid-19 pandemic, PepsiCo Foods Vietnam has made remarkable strides. We hope that the new factory project will contribute to promoting economic development, help Vietnamese people through difficulties, and bring long-term benefits to society.”
Just Food has contacted PepsiCo for further details about the new factory.
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The company added in a statement that it is also investing to source ingredients in Ha Nam and northern provinces, which will expand its potato contracting system with the adoption of “regenerative agro practice and digital technology”.
In March, PepsiCo rolled out its Greenhouse accelerator programme in its APAC region – the fourth area in which the US food and beverage giant has launched the initiative.
The scheme – which made its debut in Europe in 2017 before expanding to North America a year later – looks to support entrepreneurs whose products promote sustainability and the circular economy.
The Greenhouse accelerator will give ten successful applicants $20,000 and access to a business development programme to help accelerate the growth of their venture.
Successful start-ups will have access to PepsiCo executives to assist with areas including corporate structuring and fundraising, as well as product development, supply chain management and customer acquisition throughout the programme.