NEW YORK (AP) - Coca-Cola Co. and Coca-Cola Hellenic Bottling Company SA, plan to invest $3 billion in Russia over the next five years as part of an ongoing push into emerging markets.
Coca-Cola, the world's largest soft drink maker, has been investing in emerging markets in order to expand its presence there. The Atlanta company gets about three-quarters of its revenue from overseas, with emerging markets among its fastest-growing components.
The $3 billion investment in Russia will occur from 2012 to 2016.
Coca-Cola and Coca-Cola Hellenic, the world's second-biggest Coke bottler, announced the investment during the opening of a new Coca-Cola plant in Russia's Rostov region. Coca-Cola and its partners have invested more than $3 billion in Russia to date. The Rostov plant, which can produce 450 million liters of beverages a year, has already received investments totaling more than $120 million.
Coca-Cola said Monday that it is working with its bottling partners to invest almost $30 billion over the next five years to support anticipated growth across the business. The investments will include new manufacturing plants, new distribution systems and new marketing investments in emerging economies.
Shares of Coca-Cola added 44 cents to $67.86 in premarket trading.