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UPDATE 1-AB InBev expects total investment of up to $400 mln in Nigerian brewery

Published 22/05/2019, 19:24
UPDATE 1-AB InBev expects total investment of up to $400 mln in Nigerian brewery
ABI
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(Adds more details)
JOHANNESBURG, May 22 (Reuters) - Anheuser-Busch InBev (AB
InBev) ABI.BR , the world's largest beer maker, expects the
total investment in its new brewery at Sagamu in Nigeria, to be
up to $400 million, Chief Executive Carlos Brito said on
Wednesday.
The $250 million brewery has already started operation and
capacity will be expanded in phases, Brito told reporters at a
media briefing in Johannesburg, without giving a timeline for
the next phase.
"Nigeria (is) becoming a more and more important market as
we grow in that market," he said.
"I mean we're growing double digits, we didn't grow in the
past as fast because we were lacking capacity and now that we
have capacity, strong brands and (a) great group of people we're
challenging the status quo there."

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