As Coca-Cola Co. opened its new $90 million innovation and technology center in Shanghai, China, on March 6, the Atlanta-based beverage giant also said it would invest $2 billion more in the country over the next three years.
The money will go toward new plant and distribution infrastructure, sales and marketing and research and development, Coca-Cola President and CEO Muhtar Kent said in a statement.
The total more than doubles what Coke has invested in China in the three decades since re-establishing operations there. Since 1979, Coke has spent $1.6 billion in China, which has become its third largest market.