Coke to invest $200m in South Africa
PRETORIA, South Africa: Coca-Cola has decided South Africa is the real thing
for investment, with the company's chairman announcing on Tuesday a 1.4
billion rand ($200 million) package.
"We are very optimistic about this country's future and the economic
development of African nations," Coca-Cola's chairman Douglas Daft told
reporters after meeting with South African President Thabo Mbeki.
Daft said the investment in South Africa formed part of 7 billion rands ($1
billion) the company intended putting into Africa over the next three years.
The investment in South Africa would be used to build bottling and canning
plants, production lines, and to launch new soft-drink brands.
"We believe this will significantly increase local economic value, local
revenues, local jobs and other local opportunities," Daft said.
South Africa is Coca Cola's eighth-largest market among the 200 countries
the company was operating in. (AP)
For reprint rights: Times Syndication Service
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