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China's 37th facility to bottle Coca-Cola Co. (KO) products opened in the country's eastern Jiangxi province on Tuesday, Xinhua News Agency reported.
The Cofco Coca-Cola Beverages (Jiangxi) Co. plant cost CNY100 million (US$14.3 million) and will create 424 new jobs, as well as 4,000 jobs for local suppliers, Xinhua said.
The 147,000-square-meter plant has an annual capacity of almost 500 million bottles, and will serve 44 million people in the province.
Annual per capita consumption of Coca-Cola products in Jiangxi is seven bottles. The China average is 28 bottles, the report said.
The Cofco Coca-Cola Beverages (Jiangxi) Co. facility was built by Cofco Coca-Cola Beverage Ltd., a joint venture established in 2000 that is 65% owned by China National Cereals, Oils & Foodstuffs Import & Export Corp. and 35% owned by Coca-Cola.
Muhtar Kent, chairman and chief executive of Coca-Cola, said Coca-Cola is expected to invest US$2 billion in China over the coming three years, where it employs more than 30,000 people.
(END) Dow Jones Newswires
06-23-09 0757ET
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