September 6, 2019 / 4:40 AM / 10 days ago

Femsa to invest $3 billion in Mexico through 2021: reports

MEXICO CITY (Reuters) - Mexican conglomerate Femsa plans to invest 61.88 billion pesos ($3.14 billion) in Mexico from 2019 to 2021, creating some 41,000 direct jobs over that time, chairman Jose Antonio Fernandez Carbajal said on Thursday, according to local press.

Fernandez Carbajal detailed the investment to Mexico’s President Andres Manuel Lopez Obrador during a meeting on Thursday, according to internal Femsa (FEMSAUBD.MX) documents seen by newspapers El Universal and El Financiero.

Femsa was not immediately available to comment.

The conglomerate is known for its ubiquitous chain of Oxxo convenience stores as well running the world’s largest Coca-Cola (KO.N) franchise bottler. Femsa launched its Oxxo-branded gas station division in 2015, aiming to operate a large network of sites across the country, and also operates pharmacies.

Reporting by Anthony Esposito; Editing by Muralikumar Anantharaman

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