Vattanac to launch $87M brewery
Vattanac to launch $87M brewery
Vattanac Brewery Co Ltd’s plan to launch a new $87 million brewery in the capital was approved by the government on Wednesday in a move aimed at increasing local production and reducing imports.Vattanac Brewery is a subsidiary of Vattanac Group, the conglomerate behind the Vattanac Capital Tower – the “iconic”, dragon-backed, glass skyscraper on Monivong Boulevard in Daun Penh district’s Wat Phnom commune.
The brewery is located in Prek Eng commune’s Roboh Angkanh village in Chbar Ampov district, east of the Bassac River, and will create 899 jobs, the Council for the Development of Cambodia (CDC) said in a statement.
Ministry of Industry, Science, Technology and Innovation spokesman Heng Sokkung told The Post on Thursday that the project comes after the success of the company’s first brewery, which produces many well-known brands such as Tiger, Heineken and Black Panther.
“The new factory will increase local production capacity, create jobs, use local materials and bolster tax revenue for the national economy,” he said.
Royal Academy of Cambodia economics researcher Hong Vanak said the investment in the brewery shows the strength and confidence of investors in the political and economic situation in Cambodia.
Vattanac Brewery is willing to go through with the project, he said, noting the company’s habit of commissioning detailed assessments of domestic and export market conditions.
Cambodian beer is also being exported to some international markets, he said.
“In line with the continued growth of investment in brewing, Cambodia also needs to strengthen its human resources and production quality, especially for the export market,” said Vanak.
He said the necessary upgrades and improvements would further stimulate domestic growth and open new markets.
This is the second brewery project to be approved by the CDC this year, following Hanuman Beverages Co Ltd’s $160.6 million project.
It produces beer and soft drinks in Chhak Chhoeu Neang commune’s Trapaing Veng village in Kandal province’s western Ang Snuol district, which the CDC said would create 1,545 jobs.
There are currently 10 breweries and beverage plants listed at the ministry, it said in a report provided to The Post in April.
The plants are Ana Water and Smiler Beverage Co Ltd, Asian Sunrise Co Ltd, Cambodia Brewery Ltd, Cambrew Ltd, Daun Penh Food and Beverage Co Ltd, Khmer Beverage Co Ltd, Far East Import Export Co Ltd, Kingdom Breweries (Cambodia) Ltd, Media GB Enterprise Co Ltd, and Phnom Penh Beer Co Ltd.
