Heineken's Billion-Dollar Expansion: Beer Industry Booms in Mexico
Heineken plans to invest $2.75 billion in Mexico, including building a new factory in Yucatan with a potential production capacity of 8 million hectoliters. CEO Oriol Bonaclocha confirmed no closures of existing factories. The announcement comes amid ongoing concerns about water usage in Mexico's beer industry.
Heineken is set to significantly increase its presence in Mexico with a massive $2.75 billion investment. The company's CEO for Mexico, Oriol Bonaclocha, shared the ambitious plans during President Claudia Sheinbaum's press conference this Wednesday.
One of the main projects under this plan is the construction of a new facility in the southeastern state of Yucatan. The factory is expected to start with an initial capacity of 4 million hectoliters, and is poised for expansion to double this output in the future based on demand, Bonaclocha stated.
Reassuring stakeholders, Bonaclocha mentioned that no existing factories would be shut down. This development follows Grupo Modelo's recent commitment to investing over $3.6 billion in the country, despite the ongoing challenges with water scarcity, an issue highlighted by the recent redirection of a Constellation Brands plant to protect local resources.
(With inputs from agencies.)
Google News