Coca-Cola Philippines to pour ‘substantial investment’ into Mindanao plants

Soft drinks giant Coca-Cola Beverages Philippines Inc. said Thursday it is pouring a substantial portion of its investments in the country into its three production facilities in Mindanao.

In a virtual presser, Coca-Cola Beverages Philippines president and CEO Gareth McGeown said the beverage maker’s total $95-million (roughly P4.75 billion) investment in the country for 2020 will go to new production lines as well as increasing the capacity of existing plants.

“We will have substantial investments in Mindanao this year that we haven’t done in previous years,” McGeown said.

Without disclosing specific amounts, the Coca-Cola chief said three production plants in the southern Philippines, particularly in Sta. Cruz town, Davao del Sur; Villanueva, Misamis Oriental; and Zamboanga City “will be getting extra production capacity.”

“It’s purely based on demand, based on current infrastructure and where we want to invest,” McGeown said.

“We’re really excited to invest again in the facilities in the south,” he added.

Coca-Cola earlier said its capital investment is “imperative” amid the challenges of the pandemic, “especially as we collectively pursue restarting the Philippine economy and uplift Filipino communities amid unprecedented times.” 

“We’re optimistic about the future of our business in the Philippines and the future of the Philippines in general,” McGeown said.

Apart from continuing investment in the country, Coca-Cola Philippines has also set aside almost P2 billion for its employee assistance fund, ensuring that associates were paid during the quarantine, with those part of the skeleton workforce on-site and on the field provided with additional allowances.

Also, together with the Department of Trade and Industry and two of the country’s leading micro-financial institutions, the company launched a P157-million loan program to support 15,000 microretailers whose enterprises were affected by the COVID-19 pandemic and the community quarantine. — BM, GMA News