ADDIS ABEBA – Prime Minister Abiy Ahmed has held discussions with top officials of Coca-Cola Company over the company’s expansion project in Ethiopia.
James Quincy Chairman and CEO of the Company and Jacques Vermeulen CEO of Coca-Cola Beverages Africa attended the meeting with Abiy at the PM office on Thursday.
During the discussion, the Prime Minister appreciated and welcomed the company’s interest to expand its investment in Ethiopia.
“I welcome their commitment to expand investments and support our city development projects,” the prime minister said after the meeting.
The two Coca-Cola officials “affirmed support to our 5 billion-tree goal in the upcoming (rainy) season and to mobilize large scale investments in Ethiopia,” he added.
Last year, Coca-Cola celebrated its 60th anniversary in Ethiopia where it plans to set up a $70 million new factory.
Company officials said Coca Cola decided to expand its outlay and promote Ethiopia as a destination for other potential foreign investors.
The beverage firm and its shareholders are also planning to invest USD 300 million in the country in the coming five years.
The new plant in southern Ethiopia will have a manufacturing capacity of 70,000 cases per day.
The first Coca-Cola bottling plant was established in Addis Ababa in 1959 with a capacity of bottling 36,000 bottles per hour, while the second was installed in Dire Dawa in 1965.