Coca-Cola de Argentina and its bottling partners Andina, Arca Continental, FEMSA and Reginald Lee have announced that plans to invest a total of $1bn in the country between 2016 and 2018 are being executed as scheduled.

The company also announced a new investment plan for the financial year 2019-2021, which will see a further $1.2bn of investment over the next three years.

Coca-Cola’s South Latin America unit president Joao Marcelo Ramires said: “We are aware of the responsibility that touches us as a business sector at this momentous moment for the country and, therefore, we renew our commitment to Argentina, where we have worked with a passion for 75 years to create shared value with society.”

“We renew our commitment to Argentina, where we have worked with a passion for 75 years to create shared value with society.”

The investments will be used by Coca-Cola de Argentina to expand and renew its production lines throughout the country.

Recently, the beverage firm expanded its product portfolio in Japan by launching its first alcoholic beverage in the country.

Coca-Cola has a presence in the developing and emerging markets of Latin America, India, Russia and China. More than half of its revenues are generated outside the US.

In the last reported quarter, the company’s performance in Latin America is said to have improved.