Heineken to invest $183 million into Brazil expansion
Heineken on Monday said that it will be investing 865 million Reais ($183.14 million) in order to expand its brewing plant located in Parana, Brazil.
The Dutch brewer will finance its Ponta Grossa brewing plant this year and in 2021 in a move to increase its output by 75%.
“We are bringing forward by one year all the investments of our strategic plan. Brazil is a key market for us,” Heineken Brazil Chief Executive Officer Mauricio Giamellaro told Reuters. “Basically, we are building a new brewery,” he said in an interview.
The brewer’s move comes after Ambev unveiled its plan to spend 2 billion Reais to open an additional brewery in Northern Brazil as well as a malting factory and several other production units in line with its premium beer products.