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Coca-Cola to invest more in China as its potential No.1 world market

10-30-2010 13:41 BJT

HOHHOT, Oct. 29 (Xinhua) -- Coca-Cola, the world's number one soft drink producer, is to increase investment in China, which has a great potential to become its biggest market.

Muhtar Kent, chairman and chief executive officer of the Coca-Cola Company, made the remarks here Friday in an interview with Xinhua News Agency after announcing in this capital city of Inner Mongolia Autonomous Region the opening and near completion of three new bottling plants in China.

The combined investments in the three plants in Hohhot, Luohe of Henan Province and Sanshui of Guangdong Province amount to 1.6 billion yuan (about 240 million U.S. dollars), continuing the company's rapid expansion in one of the world's largest and fastest growing beverage markets.

The new investments are part of a three-year expansion program of Coca-Cola in China, which involves two billion U.S. dollars, a latest display of the company's long-term commitment to its business in China.

Kent described the implementation of the accelerated investment as "very good" as "we are ahead of schedule by the end of 2010."

"We continue to invest heavily, expanding our existing plans, expanding our distributions, warehouse, and our brands. We have lots of investment plans," said the CEO.

"Without a question China will become the first (market) because our business is about people. More consumers in China will mean more business," said Kent. "It's growing the fastest. It will happen. It's not important when it will happen. What is important is that it is growing and strong."

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