Tuesday, April 12, 2011

CocaCola to invest $300 mn in Pak

Posted on 12:47 AM by Sabby D

The Coca Cola group will invest over $300 million in an effort to develop the agriculture sector in Pakistan. Karachi, May 15 (IANS) The Coca Cola group will invest over $300 million in an effort to develop the agriculture sector in Pakistan.

A delegation from the company met officials from Pakistan's Board of Investment and said the group is interested to enter into a partnership in mango production, similar to their existing venture in Brazil, Dawn.com reported Saturday.

Pakistan's mangoes are considered among the best in the world. However, they have failed to gather revenue for the country, due to poor post-harvest management, which has led to an annual loss of over $900 million.

The Board of Investment said Pakistan is recognised as the sixth largest producer of mangoes, but it exports only around 2.2 percent of the total output.

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