The Coca-Cola Company plans to invest US$ 31 million in 2020-2021to boost the JV in Uzbekistan in which it holds a stake, the Uzbekoziqovqatholding said in a statement.
The funds will be used to modernize and expand the production capacities of factories in Tashkent and Khorezm province, the statement said.
Coca-Cola’s market share in soft drinks reportedly stood at 25% in 2019 and at over 50% of the market for sweet carbonated drinks.
The company increased the production of soft drinks by 38% in 2018 and by 33% last year. This is the highest growth among all companies that The Coca-Cola Company owns, the statement noted.
According to the findings of the study conducted by the company in 2019, the market is expected to grow by 1.8 times in the next 10 years due to the growth in population, income and the tourist inflow into the region.
