A delegation of Coca-Cola Icecek (CCI Pakistan), including General Manager Ahmet Kursad Ertin, met with the Prime Minister of Pakistan and announced an investment of $50 million for a Greenfield project the company plans to set up in Haripur District, Khyber Pakhtunkhwa (KP).
This will be CCI’s 7th production facility in the country. The construction of this new state-of-the-art plant is scheduled for completion by the first quarter of 2022. It will mainly cater to the beverage needs of northern Pakistan.
During the meeting, Ahmet presented the company as a leading member of the Pakistan-Turkey Business Council and one of the largest private Turkish investors in Pakistan, which is paving the way for other Turkish investors.
According to the delegation, the proposed project will not only bring major investment to the region but also create direct and indirect employment opportunities and revenue generation for the government as well as for third-party suppliers, vendors, and distributors.
A report on the socio-economic impact of CCI’s business was also presented to the Prime Minister. The report reveals that CCI Pakistan’s value chain adds a staggering Rs. 865 billion income to the country’s GDP annually which is about 1.95 percent of the national GDP.
Further, CCI’s Corporate Social Responsibility (CSR) projects were also highlighted, which include the Paani Project (Water Filtration Plants) across Pakistan, COVID-19 Relief of $1 million, and recently signed MoU of planting 50,000 trees across Pakistan.
The ambassador of Turkey to Pakistan, H.E. Ihsan Mustafa Yurdakul, accompanied the CCI Pakistan delegation. Other delegation members included Syed Omar, Director of Public Affairs and Communications, and Basit Pirzada, Public Affairs Manager.
Government officials present at the meeting included the Federal Minister for Industries and Production, Advisor Commerce and Investment, Federal Secretary Board of Investment, and Chairman Federal Board of Revenue (FBR).
CCI, mainly owned by Anadolu Group – one of Turkey’s leading industrial conglomerates -is a multinational beverage company operating in 10 countries with 26 plants.
CCI Pakistan, a subsidiary of CCI, produces, distributes, and sells sparkling and still beverages of the Coca-Cola Company in Pakistan. It currently serves a consumer base of 208 million with 6 production plants and a workforce of 2,500 employees across Pakistan.
Previously in 2018, CCI had pledged to invest $200 million for the next three years. Now they are announcing project-wise plans, with this 7th plant project being one of them. Coca-Cola already has a $500 million business in Pakistan.
Source: Pro Pakistani