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Diageo to invest $500 million in tequila production in Mexico By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – Blue agave is harvested by farmers, otherwise known as “jimadores”, in Tequila Jalisco (Mexico), April 13, 2018. REUTERS/Carlos Jasso/File Photo

MEXICO CITY (Reuters) – British beverage company Diageo (LON) announced on Thursday that $500 million will be invested to expand its Mexican tequila manufacturing capacity and increase the company’s ability to meet global demand.

Alvaro Cardenas, president of Diageo Latin America & the Caribbean said that company plans to begin building its third local manufacturing facility in La Barca (western state of Jalisco).

Cardenas stated that they would invest more than $500,000,000 dollars in order to grow their operations.

He said, “It’s the largest investment that we’ve made in Latin America or the Caribbean over the past 10 years.”

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