Coca-Cola Beverages Philippines, Inc. (CCBPI)—the bottling arm of Coca-Cola in the country—has allotted an additional $22 million investment, or approximately P1 billion , in its local operations for 2020, augmenting the original $73 million investment already earmarked for the year.
The incremental capital infusion will go to new production lines to be established throughout the Philippines, as well as people development via job protection and job generation.
CCBPI’s total 2020 investment amounts to over $95 million or P4.75 billion.
“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,” said Gareth McGeown, president and chief executive officer of Coca-Cola Beverages Philippines Inc.
CCBPI is one of the major employers in the country, operating 19 manufacturing plants and over 70 sales and distributions offices.