Coca-Cola could invest $200 million in two new bottling plants in Pakistan, its group director of public affairs in the country has been quoted as saying by local press.
Atilla Yerlikaya told government representatives that the company wanted to set up new factories in the ‘special economic zones’ in Faisalabad and the capital Islamabad.
“The company has already invested $500 million during this year on upgrading existing plants in the country,” Yerlikaya told the chairman of Pakistan’s Board of Investment, according to the Express Tribune newspaper.
And earlier this month, the soft drinks giant inaugurated a $60 million plant in Bangladesh through its subsidiary International Beverage.
It is aiming to secure ‘long-term growth’ for its business in the region and ‘sustainable development’ for the local community.
The chairman of the Board of Investment, Miftah Ismail, reportedly reassured Coca-Cola of the government’s commitment to supporting inward investment in the country’s economy.
“100% foreign equity is permitted in the manufacturing and infrastructure sectors as the country has a more market-oriented economy with a rapidly growing private sector,” the Karachi-based Express Tribune quoted him as saying.
© FoodBev Media Ltd 2023