Coca-Cola Announces $1 Billion Investment in Egypt

The Coca-Cola Hellenic Company announced today, Wednesday, its intention to invest one billion dollars in Egypt, after completing the acquisition of the Coca-Cola Egypt Manufacturing and Bottling Company.

This came during a meeting with Egyptian Prime Minister Mostafa Madbouly, and a number of Egyptian officials, with members of the Swiss-based company’s board of directors, as well as representatives of the Coca-Cola Egypt Manufacturing and Bottling Company, according to the Al-Ahram portal, citing a government statement.
Madbouly blessed the acquisition by saying that it reflects confidence in the performance of the Egyptian economy, and is a positive step towards the expansion of “Coca-Cola Hellenic” in the local market, as it is one of the largest markets in Africa.

Earlier today, the Egyptian government announced that the country’s gross domestic product (GDP) grew by 9.8% during the first quarter of the current fiscal year.

The Egyptian government announces the improvement in the performance of the economy and the rise in quarterly growth to the highest rate in two decades.

For his part, David Smith, director of Coca-Cola Hellenic operations, said that the company has been conducting a careful study of the Egyptian market for some time, and has been monitoring with interest the performance of the Egyptian economy and its indicators.

 

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Coca-Cola announces $1 billion investment in Egypt - /10

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The Coca-Cola Hellenic Company announced today, Wednesday, its intention to invest one billion dollars in Egypt, after completing the acquisition of the Coca-Cola Egypt Manufacturing and Bottling Company.

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