Tepozotlan (Mexico), Aug 21 (EFE) The Coca-Cola Company plans to invest $5 billion over the next five years in Mexico to boost its presence in the country.
Mexico ranks second after US in market share of the company.
Coca-Cola CEO Muhtar Kent made the announcement during the inauguration of a juice plant of the company in Tepozotlan town in central Mexico Thursday. Mexican President Felipe Calderon also attended the function.
Kent said the new investment would go toward infrastructure, technology, equipment, social programmes, environmental initiatives, marketing and training, with a special emphasis “on protecting employment”.
Calderon said Coca-Cola has found “the best investment conditions” in Mexico and that the new commitment will help revitalise the country’s economy, which is reeling under recession.
The reduction in imports by the US, its No. 1 trade partner, a decline in remittances from Mexicans living abroad, and a drop in tourism due to swine flu pandemic have pushed the country into recession.
Coca-Cola has invested $200 million in the new plant in Tepozotlan which is expected to provide jobs to some 1,500 people. The plant will produce 140 million beverage crates annually.
