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KUALA LUMPUR : Coca-Cola announced Tuesday it will invest 301 million dollars in Malaysia over the next five years, creating up to 9,000 jobs to further tap into the Southeast Asian market.
The US-based drinks giant company unveiled plans for a bottling plant on a 123,000-square metre (30-acre) plot in Nilai, south of capital Kuala Lumpur, expected to open before the end of 2011.
"With the new plant, one of the most modern of its kind in this part of the world, we will be able to support our core brands of Coca-Cola and Sprite in the coming years," said Glenn Jordan, Coca-Cola's president of the Pacific Group.
"We will also bring exciting new beverages to Malaysian consumers from our strong global portfolio in the coming months," he added.
Coca-Cola's net profit jumped 55 percent in the fourth quarter, thanks to emerging markets like China and India helping it weather the economic downturn in the US, which is slowly recovering from its worst recession in decades.
The company said the Malaysian investment would create between 600 and 800 jobs at the bottling plant, and up to 8,000 jobs with local suppliers.
Malaysian Prime Minister Najib Razak said he was "excited" about the investment and expressed confidence that "many more companies will follow the foresight of Coca-Cola".
Coca-Cola's announcement will come as a boost for Malaysia's economy following plummeting foreign investment in 2009.
- AFP /ls
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