Chương Dương Beverage Joint Stock Company and MLP, a real estate JV between SABECO and Frasers Property Vietnam started construction on Grade A facilities as part of its asset creation efforts. — Photo courtesy of the firm

BÌNH DƯƠNG — Chương Dương Beverage Joint Stock Company (CDBECO) on Wednesday started construction on Grade A facilities, which comprised a beverage packaging factory and a built-to-order warehouse in Mỹ Phước 3 Industrial Park in the southern province of Bình Dương.

Covering an area of 43,000sq.m, the project has a total estimated investment of more than VNĐ320 billion (US$14 million). This will form part of the CDBECO's long-term strategy to further expand its distribution network and route-to-market while creating greater value for shareholders.

The symbolic groundbreaking ceremony also celebrates the first collaboration and formal partnership between CDBECO and MLP, a real estate JV 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 Leadership in Energy and Environmental Design Certification standards with high-quality specifications to suit production needs and those of world class clients.

The project development is targeted to be completed by August 2022. The built-to-order warehouse will be leased out to strategic clients.

Addressing the ceremony, Chairman of CDBECO, Bennett Neo said: “This project will further 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.”

With a history spanning more than 69 years, Chương Dương is one of the pioneer beverage companies in Việt Nam manufacturing soft drinks and bottled water. Some of the product brands in its portfolio include Sá xị Chương Dương, Saxi Zero Chương Dương, Soda Chương Dương, Nam Phương Ngọc Yến Chương Dương and Chương Dương Water Bottle. Chương Dương is a subsidiary of Saigon Beer - Alcohol - Beverage Corporation (SABECO). — VNS