Purchase-headquartered PepsiCo (NASDAQ:PEP) is investing approximately $90 million to build a snack production facility in Vietnam.
According to the food industry news site Just Food, the new 86,000-square-foot factory will be built in Dong Van I Expanded Industrial Park in the Ha Nam province and is expected to produce more than 23,000 tons of PepsiCo snack brands annually for the Vietnamese and Cambodian markets. Construction on the facility will begin in early 2024 and is expected to be finished by the second half of 2025.
“Despite the general economic difficulties after the Covid-19 pandemic, PepsiCo Foods Vietnam has made remarkable strides,” said Nguyen Viet Ha, general manager of PepsiCo Foods in Vietnam. “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.”
