Coca-Cola has inaugurated a $60 million plant in Bangladesh through its subsidiary International Beverage, with a view to securing ‘long-term growth’ for its business in the region and ‘sustainable development’ for the local community.
The facility in Bhaluka – in central Bangladesh, 40 miles north of the capital Dhaka – will initially run two lines producing drinks under the Coca-Cola, Diet Coke, Fanta, Sprite and Kinley water brands. The facility will employ more than 150 people and indirectly lead to the creation of around 1,000 jobs across Coca-Cola’s value chain, the company predicted.
It is part of a planned $74 million of investment in the country between now and 2020, with additional spending to support infrastructure improvements, route-to-market enhancements and marketing programmes.
Coca-Cola Pacific Group president John Murphy said: “The Coca-Cola Company doesn’t take investments of this size lightly. We chose Bangladesh for this plant and investment for a multitude of reasons, but among the most important was the country’s positive attitude towards undertaking reforms for business growth and the availability of a highly skilled workforce. We are excited to be a part of the positive change happening in the country.”
The inauguration was attended by Bangladesh’s finance minister AMA Muhith (fifth from left) and the US ambassador to Bangladesh, Marcia Bernicat (eighth from left).
The inauguration was attended by Bangladesh’s finance minister, AMA Muhith, who cut the ceremonial ribbon and started the plant’s production lines.
Minister Muhith said: “Today’s opening represents a positive trend for Bangladesh. Private sector investment in our country is picking up, and Coca-Cola’s decision to invest in Bangladesh demonstrates our position as an investment hub. More importantly, Coca-Cola’s investment expands beyond the walls of this plant by creating additional jobs in our communities, training local talent and investing in our communities.”
And Irial Finan, president of the Bottling Investments Group for The Coca-Cola Company, agreed that the investment was a vote of confidence in Bangladesh’s growing place in the world.
Finan added: “Bangladesh is fast emerging as one of the world’s most important growth markets, and this plant allows for us to meet the demands of this market while creating value. It is our hope that people view our presence as a representation of our strong belief in this country and optimism in creating a stronger future for our communities and businesses in this country.”
© FoodBev Media Ltd 2023
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