The bottling company of Coca-Cola will spend an additional P1.1 billion to improve its operations in the country this year, bringing its total investment for 2020 to P4.7 billion despite the pandemic.
Coca-Cola Beverages Philippines Inc. (CCBPI) said in a recent statement that it was spending $22 million (or P1.1 billion) on top of the $73-million investment that was already earmarked for the year.
“We remain confident in the Philippine economy and this additional $22 [million] investment is testament to our faith that the Filipino people can look to a better tomorrow,” says Gareth McGeown, CCBPI president and CEO.
The additional capital infusion will go to new production lines to be established across the country as well as people development through job protection and job generation, CCBPI said.
McGeown also said that, like other private companies during the pandemic, Coca-Cola needed to do its best to help restart the economy.
CCBPI said it was one of the major employers in the country, operating 19 manufacturing plants and more than 70 sales and distributions offices.
“Throughout our journey of over a century in the Philippines, Filipinos have helped us grow and we are as committed as ever to supporting our people, customers and communities, especially given the challenges we are facing,” McGeown said.