Grupo Modelo, one of Mexico’s biggest brewing companies, is about to reveal a US$ 756 million investment plan in the central state of Hidalgo to build a new brewery, reported national news outlet Reforma, citing unnamed sources because an official announcement will be made coming Monday by company officials and Mexican president Enrique Peña Nieto.
The facility will be located at the Municipality of Apan. The project is expected to create 3,500 temporary jobs while under construction and 1,200 permanent jobs once it becomes operational.
Grupo Modelo became a subsidiary of v back in 2013 under the condition that its local brands would be produced exclusively in Mexico. One example is Corona, which is one of the few beers produced only in its country of origin and supplied from there all over the world.
This strategy has put pressure to the Corona brand, which saw its global sales increase 14% in 2016, leading the company to work already at 95% of its total capacity in Mexico, which last May increased to 77 million hectoliters with the opening of a new US$ 450 million brewery in the municipality of Hunucma, Yucatan.
The new brewery, to be named Cervecería Modelo del Centro, will start operations in early 2019 with a production capacity of more than 12 million hectoliters, expandable to 24 million in the medium term, according to the report.