The Atlanta-based company will open plants in Guangdong Province and Hohhot in Inner Mongolia Autonomous Region this year, Coca-Cola Chairman and Chief Executive Officer Muhtar Kent said.
The world’s largest soft drink maker also started construction of a plant in Henan Province this year.
“Our US$2 billion investment plan is on track,” Kent said. “China is a tremendous growth market for us and a market of great investment, partners and innovation.”
The company opened three plants in China last year in Xinjiang, Jiangxi, and Hubei. The company is also raising capacity at existing facilities.
“Without any doubt, we are completely in belief and completely allied with the prospects of what China’s future development holds,” Kent said.
Coca-Cola’s business in China grew 16 percent in the first quarter of this year. It has maintained double-digit growth in China for 38 quarters.
Coke has invested US$2 billion in China since 1979 and created 40,000 jobs directly. It creates 10 jobs indirectly with each direct job.
China is the world’s second-biggest ready-to-go non-alcoholic drink market after the United States.
The 58-year-old Turkish American businessman steering the American company said he expects China to become the biggest non-alcoholic beverage market “in a fairly short period of time” and one day become Coca-Cola’s biggest market.
“Everything is becoming possible,” Kent said. “It’s not a question of if, it’s a question only of when.”
The company covers segments including soda, water, tea, dairy and juice in China. – read more at ShanghaiDaily.com