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Fresh Del Monte expects to augment its growing avocado business with a new packing facility in Mexico.

In a webcast to coincide with the company’s quarterly results, CEO Mohammad Abu-Ghazaleh commented on the development when he was asked about investment plans.

Abu-Ghazaleh didn’t provide many details, but said Del Monte expects to complete construction in 2017.

 “We have a project that is going on now. We will have the largest and most modern avocado packing plant in Mexico by next year, so that’s one of our major investments which is ongoing as we speak,” he said.

Earlier, CFO Richard Contreras had indicated the company had slated US$ 160 million in capital investment for 2016, of which US$ 67 million had been spent in the first six months.