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Wednesday, 17 March 2021

Coca Cola, Porto Group, and BTech have big plans this year

Coca-Cola Egypt is planning to invest EGP 1 bn in Egypt this year to expand its production capacity, including setting up a new production line, General Manager Moataz Abdel Rahman told the press yesterday, according to Masrawy. The beverages company will also expand its distribution network by growing its delivery fleet and adding new points of sale, including providing traders with refrigerators. The investment is part of the company’s plan to invest EGP 5 bn between 2020 and 2025, which CEO Ahmed Elafifi announced last year.

OTHER INVESTMENT NEWS-

Porto Group will spend some EGP 20 bn at three new residential projects, Golf Porto Cairo, Porto Assiut and Porto Agadir, as part of the company’s restructuring plan launched last November, Chairman Gamal Fathalla said at a press conference, according to Hapi Journal. The EGP 4.5 bn Porto Assiut development will be completed over six years, with the first phase slated for completion within three years, he added.

Porto Group plans spending of EGP 1.3 bn on its pipeline of projects this year, Vice Chairman Ayman Bin Mokhtar Khalifa said at the same event, without specifying where the funds would be allocated.

MEANWHILE: White goods retailer BTech is investing EGP 521 mn this year, CEO Mahmoud Khattab said, at the inauguration of BTech’s latest branch in Port Said, according to Masrawy. The new location brings BTech’s total branch count across the country to 99.

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