Why this global mega company is investing $500 million in Egypt
Coca-Cola pledges to invest $500 million in Egypt over the next three years in the form of capital expenditures and other commercial and community programmes.
The company’s CEO Ahmet Bozer announced investment plans in a meeting with the newly appointed Prime Minister Ibrahim Mehleb and Minister of Investment Mounir Fakhry Abdel Nour on Tuesday.
As part of its investment, Coca-Cola plans to refurbish 100 rural villages by 2020 under the Egypt livelihood community programme.
Coca-Cola Egypt, which exports to over 40 countries, has been working in the country for 70 years and currently employs 12,000 Egyptians.
The company recorded more than $8.6 billion in consolidated net profits in 2013, a five percent drop from the previous year.