Carlsberg to build $670 million brewery in China
COPENHAGEN (Reuters) - Danish brewer Carlsberg (CARLb.CO: Quote) will sign a deal on Friday to build a brewery in the Chinese province of Yunnan at a total investment of 4 billion Danish crowns ($670.42 million), a spokesman said.
The brewery will be Carlsberg's second biggest, reaching an annual capacity of 10 million hectoliter before 2025, the spokesman said. Carlsberg's biggest brewery is currently its Russian brewery Baltika with an annual capacity of 12 million hectoliter per year.
The deal will be signed with Chinese officials on Friday in connection with the visit to Denmark of Chinese president Hu Jinteo.
"The brewery will be gradually built over a period of time to suit China's growing demand for beer in the future," the spokesman said.
Carlsberg owns 41 breweries in China fully or partly through partnerships, and will brew local brands as well as its Carlsberg and Tuborg brands, the spokesman said.
The new brewery in southwest China will be ready to brew its first beer in 2014, he said.
($1 = 5.9664 Danish crowns)
(Reporting by Mette Fraende;editing by Sofina Mirza-Reid)
© Thomson Reuters 2013 All rights reserved.