Africa, Business, invesment, Invesments, news, Uncategorized, World Bank, World Bank Group

Africa News February 25, 2014 at 10:22AM

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VENTURES AFRICA- Aujan Coca-Cola Beverages Company, a joint venture between Coca-Cola and Saudi Arabian Aujan Industries, plans to build a $100 million fruit-juice factory in Egypt, Meshal Alkadeeb, the company’s Vice President of strategy and business development, has revealed.

“The plant will be commissioned between 2016 and 2017. We just started working on it,” Alkadeeb said.

Having spent more than $100 million in the food and beverage sector across the Middle East, mainly in Dubai and Dammam, as well as reaching an agreement to buy a majority stake in Lebanon’s National Beverage Company, the firm sees this as the ripe time.

Aujan Coca-Cola was formed last year out of a $1bn partnership between Coca-Cola and Saudi Arabian group Aujan Industries after Coca-Cola purchased a 50 per cent stake in Aujan back in 2011, Reuters reported.

The company is eyeing Joint Venture acquisition as part of its business growth plans.

“This is part of our strategy together with the Coca Cola Co to develop business in beverage in this part of the world,” Aujan CEO Nicolaas Nusmeier, reportedly said.

“From that partnership we are going to develop a series of initiatives and they’re all around growth of beverages within the Middle East and North Africa region,” he added.


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