ETHIOPIA – Coca-Cola has announced plans to invest US$300 million in Ethiopia in the coming five years as part of its expansion strategy in the region.
The investment is part of a current project that the soft drink manufacturer is undertaking that will see establishment of a new plant through a US$70 million (2 billion birr) investment.
The new Coca-Cola Factory will sit on a 14.3 hectares of land in Sebeta and is said to be the largest plant for coca cola in the country -set to be finalized early next year, an update by The Reporter reveals.
The Sebeta plant will have a manufacturing capacity of 70,000 cases per day adding to three plants that Coca-Cola currently runs in the country.
According to Daryl Wilson, managing director of East Africa Bottling Share Company (EABSC), the investment disbursement will further reach US$150 million since one more plant is planned to be installed in Hawassa, capital of the Southern Regional State.
Burno Pietracci, general manager of the East and Central African Franchise, said that the new investment also seeks to promote Ethiopia as a destination for other potential foreign investors.
The beverage manufacturer has been operating in the Ethiopian beverage market for about 60 years creating some 2,200 local jobs to date and targets about 2700 jobs after commissioning the new plant.
In addition to the most recent plant installed in Bahir Dar that commenced its production in 2016, Coca Cola also runs a bottling plant in Addis Ababa with a capacity of bottling 36,000 plastic bottles (PET) per hour.
“Coca-Cola has been present in Ethiopia for 60 years and we are proud to be associated with its growth.
“We plan to invest further and have also set some ambitious targets and goals around empowering women and youth, water conservation and access and management of plastic waste,” said Phillipine Mtikitiki General Manager for East & Central Africa.
EABSC launched “vision 2020” where it will become energy self-sufficient; and during the same year, the company set plans to reach 100 million unit cases, that will put Ethiopia at the same capacity with Egypt and South Africa.