31st January 2017
Coca-Cola is set to invest $200 million in two new bottling plants in Pakistan, according to its group director of public affairs in the country. 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,” said Yerlikaya.
Earlier this month, the soft drinks giant inaugurated a $60 million plant in Bangladesh through its International Beverage subsidiary . 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,” he said.