Grupo Modelo, Mexico’s largest brewer and a subsidiary of Anheuser-Busch InBev has announced plans to construct a new brewery considered the world’s second largest at a cost of 14 billion Mexican pesos ($755 million). The brewery will be located in the city of Alpan, Hidalgo in central Mexico.

The construction of the brewery is expected to be completed by March 2019 and will have the capacity to produce nine million bottles of beer per day, according to Grupo Modelo Chief Executive, Mauricio Leyva.

Grupo Modelo, which produces beer brands such as Corona Extra, Pacifico, Modelo and Victoria among others, said that the construction of the brewery will create 3,000 jobs and “more than 1,200 direct permanent jobs during the operation phase.”

“Through this investment, Grupo Modelo reiterates its commitment and long-term vision for Mexico,” said Mauricio Leyva, president of AB InBev’s Middle Americas Zone & CEO of Grupo Modelo.

Grupo Modelo was founded in 1925 and produces 16 brands of beer which are sold in 180 countries. The firm controls 63% of the Mexican beer market and was acquired by AB InBev in 2012 at a cost of $20.1bn.

Levya said that the expansion comes as a response to increasing domestic and export demand for Corona and “the entire Mexican portfolio.”