MYANMAR: Heineken plans US$60m brewery with JV deal
The brewery is expected open next year
Heineken is to build a US$60m brewery in Myanmar as part of a new joint-venture in the country.
The 1m-hectolitre-a-year plant, near capital Yangon, is expected to open at the end of next year, the Dutch brewer said today (13 May). It will create 400 jobs and brew “leading brands, including Heineken”, Heineken said.
The brewery is part of a new JV Heineken announced today with Myanmar group Alliance Brewery Company. The deal, which brings Heineken back to Myanmar after a 17-year absence, will see Heineken subsidiary Asia Pacific Breweries take on 57% of the new venture, called APB Alliance Brewery Company.
“This is a truly exciting business opportunity that expands further our exposure to high growth markets,” Heineken CEO Jean-François van Boxmeer said.
Beverage firms have targeted the Myanmar market in the past year as governments loosen sanctions in the wake of political reform. In February, Carlsberg signed a JV with Myanmar Golden Star, and last year The Coca-Cola Co and Pepsico announced returns to the country.
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