Tetra Pak invests US$110 million in Vietnam
Packaging company Tetra Pak announced that it will be investing US$110 million to build a manufacturing facility to serve the region. The new facility will be located near Ho Chih Minh city and is expected to open in the first quarter of 2019.
The factory will be Tetra Pak’s fourth in the Asia Pacific region. Tetra Pak already has facilities in Japan, Singapore and India.
The Vietnamese facility is expected to have an expandable production capacity of up to 20 billion packs per year across a range of packaging formats. will
According to the multinational company, total consumption of packed liquid dairy and fruit-based beverages will reach 70 billion litres across ASEAN, South Asia, Japan, Korea, Australia and New Zealand by the end of 2016.
The company stipulated that this figure will grow at an annual pace of 5.6% over the next three years. Tetra Pak added that cartons will grow at a faster rate than glass bottles and cans.