Compania Cervecerias Unidas has reportedly lined up US$120m in investment for this year.

The Chilean drinks company, which also operates in Argentina, was cited by Reuters today (19 April) as saying that it will use the funds to up production capacity to satisfy demand in the two countries.

"We're making these investments to grow in beer in Chile, in bottled water, fruit juices, pisco and beer in Argentina, in all our products," CEO Patricio Jottar told the news service.

No-one was available for comment at the drinks company when contacted today.

Earlier this month, CCU posted a rise in sales volumes for the first quarter of 7.7% year-on-year. Total volumes in Argentina, up by 12.3%, helped lift the figures, while Chile delivered a 6.7% rise.