Coca-Cola has opened a new bottling plant in Saudi Arabia's capital Riyadh, the latest move in a battle fought between Coke and Pepsi-Cola.
The $20 million plant was built in just over a year on a site of 110,000 square meter, Coke said in a statement today. The company already has facilities in Saudi cities Jeddah and Dammam.
"In the five years since we entered the Saudi market, Coca-Cola has invested over $100 million in the kingdom, which remains the fastest growing market for Coca-Cola worldwide," said John Guarino, senior regional manager for Coca-Cola Gulf.
Guarino said Coke's share of sales in Saudi was nearly 30% and is estimated to have a 41% share in the region. Earlier this year, the company reported a 15% growth in unit case sales for its MENA division during 1998. Worldwide unit case volume grew 15%. It reported 26% growth in Saudi Arabia alone.
The Coca-Cola Co. is the global soft-drink industry leader, with world headquarters in Atlanta, GA. Syrups, concentrates and beverage bases for Coca-Cola, the company's flagship brand, and over 160 other company soft-drink brands are manufactured and sold by The Coca-Cola Co. and its subsidiaries in nearly 200 countries around the world.