Coca-Cola Peru and its bottler Arca Continental Lindley will invest $1 billion in Peru over the next five years, President Keiko Fujimori announced. She said the funds will go toward expanding and modernizing infrastructure, strengthening distribution capacity and boosting operations.
Fujimori made the announcement after meeting with executives from both companies and touring one of their production plants. She said part of the investment will fund infrastructure for the companies' network of small shops and strengthen their value chain.
Pucusana water project
Fujimori said the companies will direct $90 million through Peru's Works for Taxes mechanism to build a drinking water and sewage system in the district of Pucusana. She said the project is expected to be completed within three years.
She also said Coca-Cola Peru and Arca Continental Lindley will donate two million liters of water and 150,000 blankets to help populations that could be affected by the El Nino weather phenomenon in coming months.
Government commitment
Fujimori said the investment shows confidence in the country and repeated the government's commitment to guaranteeing stability, legal security and favorable investment conditions, along with protecting workers' rights. She said she expects the company to keep hiring young people and to bring more micro and small businesses into its production chain, which currently includes about 370,000 small shops.
Coca-Cola Peru and Arca Continental Lindley said the $1 billion investment aims to support the country's economic and social development through expanding and modernizing productive, operational and commercial infrastructure, strengthening cold-chain infrastructure, and using returnable packaging, among other initiatives.
Arca Continental's chief executive, Enrique Perez Barba, said the investment reaffirms the company's long-term confidence in Peru and will strengthen its production, commercial and distribution capabilities.
Pucusana infrastructure project
The companies also said they are continuing the Pucusana Scheme Project, carried out under the Works for Taxes mechanism. The initiative involves an investment of 291 million soles to provide drinking water and a modern sewage system, for the first time, to more than 31,000 residents of the district.
The companies said the project's technical planning began in April, and once construction is finished, it will be transferred to Sedapal for operation.
