Adds details throughout
MEXICO CITY, April 24 (Reuters) - Mexican brewer Grupo Modelo will invest more than $3.6 billion in Mexico from 2025 to 2027, a top executive for the firm said on Thursday.
Modelo, which makes its eponymous Modelo beer as well as brands like Corona, Victoria and Pacifico, is controlled by Belgian giant Anheuser-Busch Inbev ABI.BR.
It will use the funds for initiatives like renovating plants to use less water, said Raul Escalante, vice president of corporate affairs, at a press conference alongside Mexican President Claudia Sheinbaum.
Water usage by beer makers in Mexico has been controversial in recent years, with Constellation Brands STZ.N forced to abandon plans to build a brewery in the arid north after a referendum led by former President Andres Manuel Lopez Obrador.
Modelo will also spend the earmarked funds on recycling initiatives, modernizing the local storefronts which sell its beers, working with suppliers and marketing, Escalante said.
(Reporting by Kylie Madry; editing by Cassandra Garrison)
((Kylie.Madry@thomsonreuters.com;))
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