Coca Cola Eyes $700 Milion Indonesian Investment within Three Years | Insider Exclusive
(The Insider Stories) – Beverages producers Coca Cola Co. (KO) is eyeing to spend around $700 million within the next three years in Indonesia, its president said.
“We have big plans for Indonesia. Indonesia is very-very important to our growth,” Coca Cola International President Director Ahmet Bozer told The Insider Stories Wednesday.
“We will definitely increase our capacity [in Indonesia],” and may need to do so in other parts of the archipelagic country, he added.
Indonesia consists of 17,000 islands, covering a vast area which nearly equals to the distance between London and New York and its rising middle class,-estimated by McKinsey Global Institute to hit 135 million people by 2030-, young population, and above-6% annual economic growth in recent years are attracting global companies amid the slowdown in the developed West.
Martin Gil, the President Director of its local unit PT Coca Cola Indonesia said that it has 10 manufacturing facilities across Indonesia and it’s considering to develop a new plant in the eastern part of the country.
As part of its efforts to make further inroads, Coca-Cola on Wednesday signed a sponsorship agreement with Indonesia’s badminton association. Badminton is among the most popular sports in the country, played by people both in the rural areas and major cities.
