Alcobrew Distilleries is planning an investment of around Rs 100 crore for marketing and setting up new manufacturing plants.
The mid-sized liquor company’s Chairman and managing director Romesh Pandita was quoted as saying by BusinessLine that new investments are expected to help the company grow its turnover nearly three times to around ?1,000 crore in a couple of years.
The company has received a letter of intent from the Himachal Pradesh Government to set up a malt distillation and saturation plant. About 70 per cent of the malt production will be utilised for its own brands.
According to the BL report, out of Rs 100 crore investment, Rs 65 crore will be funded through debt and the rest from internal reserves.
Image Credit : bsmedia.business-standard.com