September 6, 2019 / 8:29 PM / 16 days ago

Conglomerate Femsa allocates $3 billion for Mexico over next 3 years

MEXICO CITY (Reuters) - Mexican conglomerate Femsa <FEMSA plans to invest over 61 billion pesos ($3.12 billion) and create about 41,000 jobs in Mexico during the next three years, the company said in a statement on Friday, confirming earlier reports.

Femsa Chairman Jose Antonio Fernandez Carbajal had detailed the investment in a meeting with Mexican President Andres Manuel Lopez Obrador on Thursday, according to internal Femsa documents seen by local newspapers.

Femsa, which runs the world’s largest Coca-Cola franchise bottler and Oxxo convenience stores, has operations across Latin America. Its total capital expenditures in 2018 were 24.3 billion pesos ($1.24 billion).

Reporting by Daina Beth Solomon; Editing by Anthony Esposito

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