SABMiller to invest additional $125 mn in India

Tuesday, 28 November 2006, 06:00 Hrs
Printer Print Email Email


New Delhi: International brewery firm SABMiller is set to invest an additional $125 million in India, the company's chief executive said Tuesday.

"We will invest an additional $125 million apart from the $500 million investment that we have already done in India," Graham MacKay, chief executive of SABMiller, said on the sidelines of the India Economic Summit here.

The 15.3-billion brewery giant, the second largest in the world in terms of volume, is increasing its investment to expand its operations and various marketing initiatives in India.

The British company recently acquired rival Fosters in India.

Said MacKay: "Our total investment will become $250 million after acquiring Fosters. And we are continuously looking for opportunities in India.

"I will continue to invest about $100 million each year in India as long as the market grows and we are experiencing good profits from the Indian market."

He said that the doing business in India prove to be difficult at times as states here have different liquor laws and taxation is extremely high.

The company currently commands a market share of 37 percent in India.

"We are having a good market share and the market of breweries in India is growing at more than 20 percent a year in terms of volume," he said.

SABMiller has 10 breweries in India and it operates under the brands of Foster, Royal Challenge, Haywards 5000, Castle and Haywards Black.





Source: IANS
SPOTLIGHT
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..