ThaiBev, the Singapore-listed food and beverage company, has unveiled a massive investment plan of Bt 7 billion (US$200 million). ThaiBev’s CEO, Thapana Sirivadhanabhakdi, revealed that Bt 4 billion (US$114 million) will be used to construct a new beer facility in Cambodia, while Bt 3 billion (US$85 million) has been set aside for logistics facilities, a biogas factory, and other strategic initiatives.
Michael Chye Hin Fah, Head of ThaiBev’s Beer Product Group, disclosed that the company is building its first beer production plant in Cambodia, scheduled for completion within 2 years. This new facility, capable of producing 50 million hectolitres per year, signifies ThaiBev’s first brewery factory in Cambodia.
The investment will allow ThaiBev to be one of the first movers to enjoy Cambodia’s untapped potential and rapid market growth in the beer segment. ThaiBev aims for 10% market share for its Chang beer in the premium beer segment.
Meanwhile, ThaiBev’s beer business in Thailand has also seen recovery due to revival of tourism and economic growth.
Apart from investment in the beer segment, ThaiBev also aims to invest up to Bt 1 billion (US$28.2 million) to expand its food services business focusing on KFC and Oishi. The company plans to open 50 to 60 new restaurants this fiscal year. ThaiBev currently owns 771 food services outlets, and it posted 19.2% revenue growth in this business segment for the first 9 months of 2023.
