Corona beer, owned by Constellation Brands.
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Mexican President Andres Manuel Lopez Obrador and Constellation Brands, which makes Corona beer for U.S. distribution, are expected to announce the construction of a new brewery in southeastern Mexico, the Wall Street Journal reports.
The new brewery could be announced as early as next week and includes an investment of $1.3 billion, a source told the Journal. The exact location of the plant in southeastern Mexico has yet to be announced.
A spokesman for Constellation told the Journal that talks with the Mexican government “have been productive and remain ongoing.” The company did not immediately return request for comment from CNBC.
Constellation had nearly completed construction of a new brewery in 2020 in the Mexican border city of Mexicali when residents voted against the new plant and the government forced the company to shut it down, according to the report.
