India: UK-based Cobra Beer communicated on March 25 it intends to invest $ 4-5 million and set up two breweries in India in the next two years, besides mulling a greenfield project in Andhra Pradesh, according to India Express news. The company also said it was mulling a greenfield project in Andhra Pradesh, which could require an additional investment of $10 million.
''We are planning to establish two breweries in southern parts of the country and a greenfield project in Hyderabad. But it all depends on our volume business. We cannot set up new projects without a desired volume growth,” Cobra Beer Chief Executive Karan Bilimoria told reporters after the launch of the company's super premium beer, priced at Rs 50 for 650 ml bottle and Rs 30 for 330 ml bottle, in New Delhi.
He said the company will invest 4-5 million dollars over the next two years in setting up infrastructure, building the brand and strengthening its presence in the Indian market, which sells 85 million cases and is growing 7.5 per cent annually.
"We are in talks with two breweries in the South to commence manufacturing of our products there. Further, we are in the process of upgrading Mt Shivalik's brewery in Punjab at a cost of $1 million; our beer would soon be produced at the unit," Mr Karan Bilimoria, Founder and Chief Executive of Cobra Beer, said.
Cobra Beer, which along with Mount Shivalik has invested one million dollars in the Rajasthan brewery since its inception in India three years ago, will upgrade the latter's brewing facilities in Punjab and Maharashtra to meet its quality standards.
Initially, the company expects to sell one million cases of Made-in-India Cobra Beer every year. From next month, it will be available in Delhi, Maharashtra, Karnataka, Andhra Pradesh, West Bengal and Rajasthan, he said, adding that by June-end, Cobra Beer will hit Uttar Pradesh, Goa, Pune and Kerala.
The 150 million dollar Cobra Beer targets to touch one billion dollar revenues in the next 7-8 years, in which India will contribute significantly, Bilimoria said.
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