ATLANTA ( TheStreet) -- Coca-Cola ( KO) plans to build a new bottling plant in Malaysia and invest more than $300 million over the next five years to increase growth in Southeast Asia.

Coca-Cola's investment comes as the company prepares to end its franchise with a local bottler after sales remained stagnant over the years, the Associated Press reports.

Coca-Cola said the new plant in the southern state of Negeri Sembilan is expected to be up and running before the end of 2011.

The move by the soft drinks giant is part of its push into Asia as it has invested heavily in countries like China and India.

-- Reported by Joseph Woelfel in New York.

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