ASIA – The Coca-Cola Company is set to open a new US$300 million production facility in Hanoi, Vietnam, according to FoodBev, which links the information to local media reports.

A report from Nhan Dan Online indicated that the announcement was made by Calin Dragan, Coca-Cola’s regional director, bottling investments group ASEAN and Middle-East, in a meeting with Vietnam’s prime minister Nguyen Xuan Phuc.

Coca-Cola is currently seeking a suitable location in Hanoi for the plant, and the new US$300 million facility would be Coca-Cola’s fourth production plant in the country.

The new facility will reportedly produce both traditional Coca-Cola beverages such as Coca-Cola, Fanta and Schweppes, and more nutritious products such as Fuze Tea, which will be made using local materials.

The report also claimed that the company would seek to build a further production facility in Ho Chi Minh City in the future.

“The Vietnam market is a promising destination,” said a Coca-Cola spokesperson.

“Our strategy as a total beverage company is not only offering consumers with more choices but also developing and integrating local business into the global supply chain through our trade relations with domestic enterprises as well as the local sourcing strategy.”

Consumption of soft drinks in Vietnam has seen a rapid expansion and according to a local media report, Vietnamese consumers are forecast to consume more than 5 billion litres of sweetened beverages in 2018, a nine-fold jump on 2000 and the figure is expected to reach 11 billion by 2025.

In a bid to strengthen its position in China’s growing beverage market, Coca-Cola along with its bottling associate Swire Group inaugurated a new state-of-the-art manufacturing plant in the province of Yunnan.