Pilgrim’s to invest $1.3B in Mexico poultry sector
Investment to cut chicken imports 35%, create 4,000 jobs
Mexico’s Economy Minister Marcelo Ebrard said Thursday that poultry producer Pilgrim's will invest $1.3 billion in the country over the next five years, reported Reuters.
The investment will allow Mexico to reduce its current chicken imports by 35 per cent, Ebrard said.
Pilgrim’s Mexico investment is expected to generate about 373,000 metric tonnes of additional production and create 4,000 direct jobs.
Pilgrim’s, which has operated in Mexico for nearly four decades, is reaffirming its commitment to the country, chief executive Fabio Sandri said.
Mexican President Claudia Sheinbaum highlighted the announcement during her morning press conference.
“Pilgrim's already has assets in Mexico and is making this new investment because it has done well and because it knows that investing in Mexico is safe,” Sheinbaum said.