- Coca Cola PH is investing an additional P1.1-B for its production lines
- The company hopes to secure and create more jobs amid the ongoing pandemic
- It underscored the need for private companies to help restart the economy
Coca Cola’s bottling company is defying the odds by investing an additional $22 million or roughly P1.1 billion for its production lines in the country despite the ongoing coronavirus pandemic.
In a statement, the Coca-Cola Beverages Philippines, Inc. (CCBPI) said this is on top of $73 million investment already allotted for this year; bringing the company’s total investment for 2020 to $95 million or approximately P4.75 billion.
The new capital infusion for its production lines across the country is eyed to provide more jobs as Filipinos struggle to survive the economic downturn brought by the COVID-19 crisis.
“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 CCBPI president and chief executive officer Gareth McGeown in a statement.
Currently, CCBPI is operating 19 manufacturing plants and more than 70 sales and distributions offices making it one of the major employers in the Philippines.
“Throughout our journey of over a century in the Philippines, Filipinos have helped us grow, and we are as committed as ever to supporting our people, customers, and communities, especially given the challenges we are facing,” McGeown added.
The CCBPI CEO further noted that their investment in the Philippines is ‘an investment in the Filipino.’
“We are doing what we can to help make sure that the Filipino trait of resilience can shine through,” McGeown said.
CCBPI also underscored the need for private companies like itself to do the best they can to help ‘restart the economy in order to secure and protect as many jobs as possible, to help as many local communities, micro and small businesses rebuild their livelihoods, and help displaced workers get back on their feet’.