Tuesday, June 14 2005 19:59 Hrs (IST) - World Time -

London: Global brewing company SABMiller on Tuesday (Jun 14, 2005) announced $125 million investment over five years to expand operations and develop market-leading brands in India, which it has identified as a strategic growth market.

"The global brewing company's Indian subsidiaries intend to commit in excess of $125 million in capital expenditure and marketing initiatives over five years to expand current operations and further develop market-leading brands in India," the company said.

SABMiller recently announced that its Indian subsidiary, MBL Investments, acquired the Shaw Wallace Group's residual interest in the brewing operations of SABMiller's Indian joint venture.

"While the Indian beer market has been growing at 6-7 per cent annually, SABMiller's brewing operations have recorded a much higher growth rate of 12 percent in the last year.

With the further investment we are able to upgrade and expand existing breweries, develop our brands and increase the standard of the barley farming industry through co-operative initiatives," Graham Mackay, chief executive officer of SABMiller said.

During a visit to India this week, Mackay is slated to meet with Government officials and industry leaders to discuss SABMiller's involvement in India and would inaugurate $14 million upgrade programme at the Hyderabad brewery.