Coca Cola to invest $1 billion in Russia for the next 5 years

[News_Editor]

Coca Cola to invest $1 billion in Russia for the next 5 years

2010-10-28 06:29:07 GMT+7 (ICT)

NIZHNY NOVGOROD, RUSSIA (BNO NEWS) -- The Coca Cola Company on Wednesday announced that it will invest $1 billion in the next 5 years for beverage production.

The announcement was made by Zoran Vucinic, the president of the Coca Cola’s Russia, Ukraine & Belarus Business Unit, at an international forum in Nizhny Novgorod on the Volga.

According to RIA Novosti, the Coca Cola Company decided to make the large investment in Russia in order to double the volume of its businesses in the European giant by 2020.

Last February, Vucinic announced that the company planned to invest in developing its infrastructure in Russia. In the beginning it was reported that the investment will be as high as $1.2 billion.

Vucinic said that the company could afford to conduct an aggressive policy on the Russian market as it had a healthy financial base in the United States. In addition, he remarked that despite the financial troubles, Coca Cola is a well-established brand among people.

Since the launch of Coca Cola’s operations in Russia in the late 1980s, the soda-manufacturer company has invested $1.8 billion. Nizhny Novgorod has hosted a Coca-Cola drink plant since 1996.

Coca Cola, a worldwide recognized company, is based in Atlanta, Georgia. It sells its products to over 200 countries.

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