(TDB) - AB InBev-owned Grupo Modelo, which makes and exports the beer brands Corona, Modelo and Pacifico, has invested 14 billion pesos (US$754 million) to build a brewing and bottling plant in the Mexican city of Apan.

Mexican brewer Grupo Modelo, owned by beer giant AB InBev, announced yesterday that it was building the facility in Apan, located in the central state Mexican state of Hidalgo.

According to Forbes Mexico, the new site is expected to be the world’s second largest brewery. It will have an initial annual capacity of 12 million hectolitres, but this is expected to double in the future.

At an event in Mexico City, Mauricio Leyva, Grupo Modelo’s chief executive, said that construction would begin by the end of 2017, with brewing expected to commence in the first quarter of 2019.

“We expect in about 14 to 16 months to be sharing and toasting with you the first beer from this plant,” said Leyva on Monday.