Aujan Coca-Cola Beverages Company (ACCBC) is planning to expand across the Middle East and North Africa region with an investment of around $500m.

The proposed investment will be used in capacity improvements, innovations in new packages and IT infrastructure upgrades over the next three years, reports Arabian Business.

ACCBC currently manufactures drinks under Rani and Barbican brands. It is also the licensed manufacturer of Vimto in the Middle East.

Commenting on the expansion, ACCBC CEO Nicolaas Nusmeier was quoted by the publication as saying: "Robust expansion plans will enable ACCBC to realise the vision of its shareholders across the Middle East and North Africa.

"We already have a portfolio of strong brands, and an excellent track record as a regional beverage operator. Major investments in capacity, geographical coverage, and brand development will allow us to capitalise on the growth potential for the beverage industry in the MENA region.

"Despite political and economic disruption over the past few years, the regional beverage market has continued to grow, and we expect this to continue.

"ACCBC is putting in place a strategy to become one of the biggest beverage operators in the region, growing from a company within a single category and a limited geography into a total beverage, multi-country, powerhouse."

ACCBC had acquired a majority stake in the National Beverage Company in 2014 and announced plans to set up a new factory in Egypt.

The company witnessed 300% growth in Rani sales in Algeria, which is said to be the biggest juice market in Africa.