14:05 | 13/10/2017 Economy
Sweden-based food packaging and processing company Tetra Pak held a ground-breaking ceremony, for a packaging factory worth US$110 million, at the Vietnam-Singapore Industrial Park II (VSIP II) in Binh Duong province on October 4.
|At the groundbreaking ceremony for the factory - Photo: baodautu|
This is the first factory in Vietnam that will produce packaging for water-based food and will have a total capacity of producing 20 billion units of packaging per year in order to serve domestic and export demand.
The plant will cover approximately 100,000m2 and is scheduled for completion in early 2019.
Deputy Minister of Planning and Investment Nguyen Van Hieu said that the factory is the largest scale factory among 54 projects undertaken by Swedish investors in Vietnam, adding that the factory would take lead in guiding more Swedish enterprises to invest in Vietnam.
Chris Kenneally, Tetra Pak President South Asia, East Asia and Oceania, said that the factory is the fourth packaging factory of Tetra Pak in the region, aiming to meet the increasing demand for dairy and beverage packaging in Vietnam and the Asia-Pacific region.
He noted that, with a sustainable development strategy, the factory in Vietnam will be the greenest in the Tetra Pak factory system and will use the world's most advanced technology and equipment, therefore meeting the highest environmental standards.
According to Tetra Pak, canned dairy and beverage products in South East Asia, Australia and New Zealand markets are expected to grow by 5.6% per year until 2019.
In Vietnam, dairy consumption per capita is expected to double to 28 litres per year by 2020, while fresh fruit juice is forecast to grow by 17.5% in the next year, which is the basis for packaging factories, including Tetra Pak's factory, to expect further growth in the near future.