PepsiCo, the world's second largest food and beverage company, will build a 73 million USD beverage production plant in northern Bac Ninh province's Vietnam-Singapore Industrial Park (VSIP).

The agreement was signed yesterday between PepsiCo and VSIP Bac Ninh Co under the witness of Vietnamese Prime Minister Nguyen Tan Dung and his Singaporean counterpart, Lee Hsien Loong.

When it opens, the new facility will be PepsiCo's largest production plant in Vietnam and one of its two largest in Southeast Asia . It will produce carbonated and non-carbonated beverages, including its Pepsi, 7-up, Mirinda, Aquafina, Sting, Twister and Lipton bands.

PepsiCo recently pledged to invest 250 million USD in Vietnam over three years from 2011, bringing its total investment to over 500 million USD since 1994 when the company's products were first launched in Vietnam.

The new investment aims to help further strengthen the company's existing brands and broaden its product portfolio via innovation with numerous health and wellness initiatives.

First established in 1996, VSIP is a joint venture between Bexamex IDC Corp, a State -owned Vietnamese enterprise, and Singaporean Sembcorp Industrial Parks.

VSIP now consists of four townships and industrial parks located in southern Binh Duong and northern Bac Ninh provinces, and Hai Phong City . The parks have attracted more than 400 companies and created 65,000 jobs to date.

Source: VNA