©Reuters. FILE PHOTO: The Pepsi logo is pictured in Irwindale, California, U.S., July 11, 2017. REUTERS/Mario Anzuoni/FILE PHOTO
HANOI (Reuters) – U.S. food and drink maker PepsiCo (NASDAQ:) Inc has committed to investing another $400 million in Vietnam to build two new plants powered by renewable energy in the country, its government said on Friday.
The announcement came as delegations from more than 60 US businesses, including Suntory PepsiCo Vietnam Beverage, made a 3-day working visit to Vietnam this week.
A beverage manufacturing plant will be in the southern province of Long An and cost more than $300 million, while another for food processing will be in the northern province of Ha Nam with an investment of $90 million, the government said Vietnamese.
The report does not provide details on the commissioning times of the two factories.
Late last year the company said it had obtained an investment certificate for the Ha Nam factory, which was expected to come into operation in the third quarter of 2025.
PepsiCo, which operates five factories across Vietnam, entered the country in 1994.