Coca-Cola to set up new bottling unit in Bangladesh
Atlanta-based soft-drink major Coca-Cola plans to set up its first bottling plant in Bangladesh to meet the growing demand for carbonated soft drink in the country.
Board of Investment (BOI) executive chairman SA Samad told Bdnews24.com that the company has already registered with it to invest about $50m by next year.
Coca-Cola's bottling operations will bring in BDT3.76bn ($45m) in foreign equity and raise another BDT375m ($4m) working capital from the local market, according to information it provided to the investment board.
Coca-Cola has set its sight on starting commercial operation by September next year at a plant in Tongi where it will produce Coca-Cola, Sprite, Fanta, juice and juice-based drinks, and packaged drinking water.
Currently, Abdul Monem and Pran Group bottle the products. The plant is expected to produce 222 million bottles worth BDT9bn ($109m) per year.
BOI, established by the Investment Board Act of 1989, serves to promote and facilitate investment in the private sector both from domestic and overseas sources with a view to contribute to the socio-economic development of Bangladesh.
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