Toronto Brewer, Mohan Meakin In Beer Jv
An Indo-Canadian entrepreneur will soon start making beer in India to meet the demands of the growing middle class in that country.
Steven Judge, president of the Toronto-based India Breweries Inc, said the manufacturing would be a joint venture with Mohan Meakin Ltd., Indias oldest brewery.
Judge will have 68 per cent share, while Mohan will have 32 per cent in the proposed new unit.
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Judge said he had already received a government licence to produce and sell Pabst Blue Ribbon beer in India.
Judge said the total investment would amount to some $120 million, half of which would come from Mohan Meakin and be spent on building six new breweries by 2005. The first bottles of Pabst are scheduled to be produced in Mohans existing brewery in Delhi starting in June.
Despite growing affluence in the country, India has a long way to go before beer becomes part of its culture, Judge said. (IANS)