By Ben Otto
JAKARTA--ThaiNamthip Ltd., Coca-Cola Co.'s (KO) bottling partner in Thailand, said Thursday it is forming a joint venture with Laos-based PT Construction Co. to bottle and distribute Coca-Cola sparkling and still beverages in Laos.
The new venture, Lao Coca-Cola Bottling Co., will distribute Coca-Cola, Fanta, Sprite, Minute Maid, and Namthip drinking water, ThaiNamthip said in a statement. It started distributing Coca-Cola products supplied by ThaiNamthip's plants in Thailand on Thursday.
The joint venture will have initial capital of US$40 million, covering the first five years of operations.
ThaiNamthip will own 70% of the venture, with Construction Co. holding the rest.
Lao Coca-Cola Bottling will also build a bottling plant in Vientiane province that will start operations in 2014.
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