SABMiller to invest $125 mn in India
With the acquisition of Fosters in India, SABMiller's total investment will now touch $250 mn.india Updated: Nov 26, 2006 19:10 IST
After acquiring Fosters in India around four months back, SABMiller has lined up additional investment of 125 million dollars in India.
"We will invest 125 million dollars in our existing operations in India in the next two to three years. With the buy-out of Fosters in India, the total investment will touch 250 million dollars," SABMiller Chief Executive Graham Mackay said on the sidelines of India Economic Summit.
He said the investment of 125 million dollars would be for marketing efforts and expanding breweries. The company has nine breweries in India.
"Beer has huge potential to contribute to India's development," he said, adding that unification of markets would become a big boost.
Different laws on liquor in different states are inhibiting the growth of the Indian beer industry, which is 1/70th of the size of China.
SABMiller is the second largest brewer in India and its brand portfolio includes Royal Challenge, Haywards 5000, Castle and the recently launched Haywards Black, India's first stout beer. It is gradually improving its market share and coming close to the leader United Breweries.
Globally, SABMiller had revenues of 15.3 billion dollars in 2005-06.
First Published: Nov 26, 2006 18:36 IST