Oxxo owner FEMSA to invest 61 billion pesos in next 3 years

September 6, 2019

oxxo store — Oxxo's parent company plans more investment.

The Mexican multinational company FEMSA said yesterday it will invest 61.87 billion pesos (US $3.2 billion) in Mexico between 2019 and 2021.

President José Antonio Fernández Carbajal announced the investment at a meeting with President López Obrador and other business owners.

The company will invest the money in Mexico in 2019, 2020 and 2021, creating 41,000 direct jobs, Fernández said.

He said the company has a value chain made up of almost 41,000 suppliers in the country.

Fernández said he and the president discussed the role of free markets in the development of Mexico and the importance of improving security.

“The meeting was held at my request, and gave me the opportunity to express the importance of keeping a permanent dialogue open, and speaking honestly to find points of agreement and raising differences, always with personal and institutional respect,” he said.

FEMSA’s holdings include Coca-Cola FEMSA, the biggest Coca-Cola bottler in Mexico, and the convenience store chain Oxxo. Oxxo opens a new store in Mexico every eight hours, creating an average of 27 jobs per day.