Exactly a year ago on March 3, 2015, The Coca-Cola Company announced an investment of Rs. 7 billion for Multan Greenfield by holding a groundbreaking ceremony at the site. Just recently on 9th March, 2016 Finance Minister of Pakistan, Mr. Ishaq Dar, inaugurated Coca-Cola Beverages Pakistan Limited’s (CCBPL) brand new bottling plant set up in Multan. The Greenfield project spread over 120,000 square meters, will generate employment for over 2500 people directly and indirectly.
At the inauguration there were representatives from The Coca-Cola Company as well as Coca-Cola Içecek; Nathan Kalumbu, President, Eurasia & Africa (TCCC), Curt Ferguson, President, MENA BU (TCCC), Tuncay Özilhan, Chairman of Coca-Cola Ýçecek (CCI), Turkey, the parent company of CCBPL, and Burak Baþarýr, CEO CCI were also present at the inauguration ceremony, accompanied by John Galvin, General Manager CCBPL and Rizwan U. Khan, General Manager The Coca-Cola Export Corporation, Pakistan and Afghanistan.
Speaking at the occasion, Chairman CCI Tuncay Özilhan highlighted “10 years ago we believed in this country and our decision to invest here was the right one. Since we started operations, as the Coca-Cola system we have invested more than 500 million dollars. With its friendly people, talented workforce, promising youth as well as its rich and diverse culture, we believe in Pakistan and the future of this country. Coupled with the Pakistani government’s efforts for economic prosperity, we are confident that Pakistan will grow its economy in the upcoming years. Recognizing this potential and preparing ourselves well for the future, we further plan to invest another 200 million dollars in Pakistan in the next 3 years.”
Showing gratitude towards The Company’s consistent support, Rizwan U. Khan stated “Today marks an important day in the history of The Coca-Cola Company, to have the honourable representatives of The Coca-Cola system besides me. It gives me great pleasure to announce Multan Greenfield as operational and ready to serve the growing market of Pakistan.”
Currently Pakistan has six bottling plans, and Multan Greenfield is third greenfield project besides Karachi and Islamabad. Greenfield investment refers to new foreign direct investment that will be utilised in setting up a completely new project, as opposed to an existing business expanding operations with its free cash flows. Considering the strategic location of Multan Greenfield, the new plant will be able to serve not only southern and northern Punjab – which alone accounts for more than 60% of Coca-Cola’s business – but can also cater to Karachi’s market in Sindh.
The Coca-Cola Company believes in investing towards the integration of business processes and shared benefits for the communities and all stakeholders. Greenfiled projects in Pakistan provide increasing employment, improved living standards and awareness of social responsibility through its CSR portfolio. Therefore, through business ventures like these Coca-Cola develops and empowers communities for a sustainable future, throughout its value chain.
More on Journey
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- The Coca-Cola Company’s 2016 MENA Scholarship Program
- Coca-Cola Pakistan celebrates International Literacy Day 2016 with EMPOWER LECTURE SERIES
- Coca-Cola Pakistan: Reshaping the Society
- 'Women Hold Half The Sky' - Coca-Cola on Women Empowerment