Coca-Cola HBC Eurasia has signed an investment agreement with the administration of the Rostov region for the development of its 14th production plant in Russia.

Speaking to just-drinks today (27 September), a spokesperson for CCHBC said that the deal, signed last Saturday, involves a EUR120m (US$170m) investment in the construction of a plant in South Russia, in anticipation of the 2014 Olympic Games.

The plant, which is scheduled to begin construction in November, involves building upon 23 hectares of land. On completion, the company hopes to have an estimated annual capacity of 300m litres at the facility, using six production lines.

The spokesperson added: "The south region is very important and has no production facilities. With the winter Olympics of 2014 approaching and Coca-Cola being one of the oldest partners of the Olympic movement in the world, we need these facilities."

CCHBC is one of the world's largest bottlers of products of The Coca-Cola Co. and has operations in 28 countries serving a population of more than 540m people. In Russia, it currently operates 13 soft drink production facilities and over 60 distribution centres, based in major cities. The total investment in the Russian economy by the Coca-Cola system exceeds US$1.5bn.