Monday, December 14, 2009

German brewer starts $60m joint venture in Cambodia

Local conglomerate ties up with Ziemann group in ambitious plan to create beer able to compete in international market

Cambodia’s Chip Mong Group inked an agreement Sunday with Germany’s Ziemann Group to establish a US$60 million joint-venture brewery to produce a “world-class beer” in Cambodia.

“We hope the venture will lead to Cambodia producing a quality product to compete in both local and international markets,” Leang Khun, president of Chip Mong Group, said at the signing event.

According to the terms of the joint-venture agreement, $60 million in capital will be invested by Chip Mong Group, leaving Ziemann Group responsible for operations at the new brewery, which will be called Khmer Brewery.

Work on the plant, to be located in Choueng Ek commune in Phnom Penh’s Dang Kor district, is scheduled to commence in January. When construction wraps up 15 months later, the brewery will create 700 jobs and produce from 100 to 200 million litres of beer annually, Leang Khun said.

To read more: http://www.phnompenhpost.com/index.php/2009121430171/Business/german-brewer-starts-60m-joint-venture.html

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