(Bloomberg) -- Coca-Cola plans to invest $300 million to expand its business in Ethiopia in the next five years, as the East African nation opens up its economy to more foreign investors.
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The company, that started in Ethiopia six decades ago, will immediately spend $70 million to build a fourth plant in Sebeta, 25 kilometers (15.5 miles) outside the capital, Addis Ababa. The complex will have a capacity of 70,000 cases per day, Ethiopia’s European Union embassy said in a statement on its website, citing Coca-Cola East and Central Africa Franchise General Manager Bruno Pietracci.
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Coca-Cola plans to build a fifth plant in Hawassa in the south of the country, according to the statement.
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