Turkmenistan Coca-Cola Bottlers Ltd.

In its first project in Turkmenistan, MIGA issued a guarantee for $8 million to EFES Sinai Yatirim Holdings A.S. for its equity investment to expand and modernize a soft drink bottling facility in Ashgabat. The guarantee covers the investment against the risks of expropriation and war and civil disturbance.[1]

The project will transform the existing manufacturing plant into a state-of-the-art soft drink bottling facility by constructing and installing new infrastructure and equipment. The project enterprise, Turkmenistan Coca-Cola Bottlers Ltd. (TCB), will bottle, distribute, and sell soft drink products and its efficient distribution system will benefit local distributors, restaurants, and small businesses.

The TCB's production plant will benefit from substantial transfer of technical and managerial expertise. Extensive training in modern manufacturing techniques, sales, marketing, management, and distribution of soft drink products will be offered onsite in Turkey and Moscow. The plant will create approximately 180 jobs for local citizens and TCB will likely pay $2.8 million annually in taxes. Water and carbon dioxide needed for the product will be procured locally.

[1] The guarantee was expired on June 24, 2019.