Coca-Cola planning to invest US$500M to set up plant in Egypt
March 6, 2014
(Business Monitor International)
– News: US soft drinks giant The Coca-Cola Company (Coke) is planning to invest US$500mn to set up a plant in Egypt, reflecting the company's confidence in the country's investment climate, according to President of Coca-Cola International Ahmet C. Bozer. The announcement came during a meeting between Bozer and Prime Minister Ibrahim Mehleb in March, which was attended by the Minister of Investment, Industry and Foreign Trade Mounir Fakhry Abdel Nour and a delegation from The Coca-Cola Company.
BMI View : Over BMI's forecast period to 2017, there is room for strong growth across Egypt's soft drinks sector. Given that about 90% of the population practices Islam, the alcohol industry is of course marginal; this is to the benefit of soft drinks. Gulf-based companies are increasingly active in Egypt, and in some cases, such as a joint venture between Saudi dairy company Almarai and US-based drinks firm PepsiCo, are joining forces with Western companies as they look to expand in the Middle East and North Africa region, with Egypt the standout opportunity in North Africa.