Turkmenistan Coca-Cola Bottlers (TCCB) has secured a $10m loan from The European Bank for Reconstruction and Development (EBRD) for expansion and energy efficiency enhancements.
TCCB will use the loan to boost production, improve energy efficiency and train local small and medium-sized enterprises (SMEs) to help them meet Coca-Cola standards and potentially become suppliers.
Additionally, the company will invest in energy efficient coolers, new vehicles and bottling machines in order to improve its production processes.
The firm is also planning to boost its capacity and reduce energy waste with the EBRD funding support.
EBRD Turkmenistan operations head Engin Goksu said: “This loan reflects the EBRD’s top priorities in Turkmenistan, boosting foreign direct investment in this market and supporting local value chains.
“We are already supporting one company in Turkmenistan which became a supplier thanks to its improvements in quality; the new project will see more SMEs in the country have a chance to raise standards to international levels.”
TCCB is a bottler of Coca-Cola branded beverages in Turkmenistan and a subsidiary of Coca-Cola Içecek (CCI), a publicly traded Turkish Company.
CCI has operations in 10 countries, including Turkey, Pakistan, Kazakhstan, Azerbaijan, Kyrgyzstan, Turkmenistan, Jordan, Iraq and Syria and Tajikistan.
In 2011, the EBRD has provided $20m funding to TCCB for the expansion of production and bottling capacity in Turkmenistan.
The bank also granted €45m loan in 2015 for CCI’s expansion in Tajikistan.
Image: Turkmenistan Coca-Cola Bottlers (TCCB) intends to boost its operations. Photo: courtesy of the European Bank for Reconstruction and Development (EBRD).