INDONESIA’S drinking water business is certainly profitable. Believe it or not, a liter of mineral water costs more than a liter of gasoline. It’s no surprise, therefore, that the Coca-Cola Company wants to get involved. At the beginning of this month, the global soft drinks giant officially hooked up with PT Ades Alfindo Putrasetia Tbk., the second largest producer of mineral water in Indonesia.

In this US$19.9 million partnership,