Chuong Duong Beverage JSC, a subsidiary of SABECO, broke ground on a beverage packaging factory and a built-to-suit warehouse in Binh Duong province, a part of its long-term strategy to further expand its distribution network, route-to-market, and create greater value for its shareholders.
|This project will further expand the distribution network, route-to-market, and create new revenue streams for Chuong Duong Beverage JSC |
The total investment is projected to cost more than VND320 billion ($13.9 million). The project is scheduled for completion by August 2022. The built-to-suit warehouse will be leased out to strategic clients.
Addressing the ceremony, chairman of Chuong Duong Beverage JSC (CDBECO) Bennett Neo shared, “This project will expand our distribution network, route-to-market, and create new revenue streams for CDBECO through optimising our existing assets. This will increase our overall shareholder value, along with other new initiatives from our core business in 2022.”
The groundbreaking ceremony also celebrates the first collaboration and formal partnership between CDBECO and Me Linh Point Limited, a real estate joint venture between SABECO and Frasers Property Vietnam. Together with the main contractor COFICO E&C, CDBECO aims to create an innovative and sustainable industrial property that will meet LEED (Leadership in Energy and Environmental Design) certification standards with high-quality specifications to suit their own production needs and those of world-class clients.
With a history spanning more than 69 years, Chuong Duong is one of the pioneer beverage companies in Vietnam manufacturing soft drinks and bottled water. Some of the brands in its portfolio include Sa Xi Chuong Duong, Saxi Zero Chuong Duong, Soda Chuong Duong, Nam Phuong Ngoc Yen Chuong Duong, and Nuoc Uong Chuong Duong. Chuong Duong is a subsidiary of SABECO.