BAKU, Azerbaijan, Mar. 11
By Ilkin Seyfaddini - Trend:
Coca-Cola Ichimligi Uzbekistaniston Ltd. plans to invest $31 million in Uzbekistan in 2020-2021, Trend reports via Uzbek media.
"The decision on the investment was made based on the data of our researches of Uzbekistan’s domestic market of soft drinks, conducted in cooperation with foreign analysts. According to researches, in the next 10 years, the soft drinks market will increase by 1.8 times due to population growth, income growth and expansion of tourist potential of the region," said the company.
The capacity increase will require modernization of three plants in Namangan, Urgench and Tashkent, which will economize on logistics and increase tax revenues in the regions where the plants are located.
In 2019, Coca-Cola's market share in soft drinks increased by 25 percent and in carbonated sweet drinks by more than 50 percent. The сompany increased its beverage production by 38 percent in 2018 and by 33 percent in 2019.
JV Coca-Cola Ichimligi Uzbekiston Ltd. was established in 1993. Currently, 57.1 percent of the company's shares are owned by Coca-Cola Ichimligi Uzbekiston Ltd. and 42.9 percent by Coca-Cola Export Corporation. The plants produce soft drinks under trademarks Coca-Cola, Fanta, Sprite, Bonaqua and Fuse Tea.
In 2018, the government was going to sell its stake in it to a foreign investor, but the deal did not go through.
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