Heineken, CFAO Form Beer JV In Ivory Coast
Dutch brewer Heineken N.V. (HINKY) and CFAO Group announced the formation of a new joint venture in Ivory Coast under the name of "Brassivoire" to produce and market beer in the country. The new entity is owned 51 percent by Heineken and 49 percent by CFAO.
Heineken and CFAO are also laying the foundation stone for their new beer production site Friday in the presence of His Excellency Prime Minister, Minister of Economy, Finances and Budget Daniel Kablan Duncan and Mr Jean-Claude Kassi Brou, Minister of Industry and Mines, along with other members of the Ivorian Government.
Heineken and CFAO are now combining their strengths once again after 20 years of successful collaboration in the Brasco company in Congo-Brazzaville.
The new brewery, incorporating the very latest technologies, will be the first occupant of the new PK24 industrial zone to the north of Abidjan. The two partners will invest 100 billion CFA francs, or around 150 million euros.
The brewery will have a capacity of 1.6 million hectolitres per year.
The site will brew Heineken beer, as well as other brands, for the domestic market. The first bottle of beer is expected to come off the production line at the beginning of 2017.
The arrival of Brassivoire is expected to create around 700 direct jobs and support more than 40,000 indirect jobs, thereby contributing to the economic development of Ivory Coast.
With the ambition of sourcing 60 percent of agricultural raw materials locally in Africa by 2020, Heineken seeks to be a partner for growth on the African continent. (dpa)
Other news from the department business & finance
Get the food & beverage industry in your inbox
From now on, don't miss a thing: Our newsletter for the food & beverage sector brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
