Coca Cola Hellenic plans to invest $1 billion in Egypt over 5 years

Coca Cola Hellenic Bottling Company (HBC) intends to invest $1 billion dollars in Egypt over the next five years, after acquiring Coca Cola Egypt, according to a statement from the Egyptian Cabinet on Wednesday.

The statement quotes Coca Cola Egypt’s chief executive Ahmed Afify saying the investment would include building factories and adding production lines.

In August, Coca-Cola Hellenic bought a 94.7 percent stake in Coca-Cola Bottling Company of Egypt (CCBCE) for an agreed total combined purchase price of $427 million. Coca-Cola HBC is one of the largest Coca-Cola bottlers in the world and is 23 percent owned by the U.S.’ Coca-Cola Company.