Heineken beer-maker APB Alliance Brewery Company said its first beer factory in Myanmar will be able to start operation by the end of next year.
Myanmar’s Directorate of Investment and Company Administration approved establishment of APB Alliance Brewery on July 25.
It is a joint venture between Asia Pacific Breweries Ltd (APB) and its local partner Alliance Brewery Co Ltd (ABC).
Netherlands-based Heineken announced its entry to Myanmar in May 13. Now, its APB holds 57 percent stake in the US$60 million worth joint venture.
Heineken beer factory will be located in Hmawbi Township in Yangon Region and it is expected to be operational towards the end of 2014.
World’s top beer-maker Heineken owns 95.3 percent stake in APB, which used to be a joint venture with Fraser and Neave (F&N) until 2012.
F&N has long time presence in Myanmar. Its joint venture called Myanmar Brewery Ltd is with the military-owned Union of Myanmar Economic Holding Ltd (UMEHL). On its establishment, F&N owned 55 percent share but the update share information is not known.
Heineken once penetrated Myanmar market in the past joining hands with Myanmar Brewery Ltd. Later in 1996, it withdrew from Myanmar on political grounds.