Bennett Neo, general director of SABECO

SABECO on March 8 inaugurated the Saigon-Quang Ngai Brewery expansion in the central province of Quang Ngai, demonstrating SABECO’s commitment to the infrastructure of the brewery as well as the company's long-term business development.

Bennett Neo, general director of SABECO said at the ceremony, “Not too long ago, in 2010, we started the brewery with a capacity of a mere 100 million litres per year. Now, we're boasting a capacity of 250 million per year."

He explained that in 2020, SABECO invested around $28.2 million into the Quang Ngai Brewery as part of SABECO's 3-year brewery expansion scheme.

“Besides adding new a high-tech, high-speed canning line, we invested in 17 new tanks, a new filtration line, a yeast propagation system, and a reverse osmosis water treatment system,” Neo added.

“I believe that the worst of the pandemic is behind us. With great efforts from our government in driving vaccinations, our vaccination rate is now among the highest in the world,” he said.

Quang Ngai’s expansion has created more jobs for locals and engaged other business partners in the supply chain

A report by Viet Capital Securities from last month noted, “We participated in the online meeting of investors of SABECO on February 11. Our key takeaways from the meeting were in line with our expectations of a gradual recovery in the beer industry in 2022 and enhanced SABECO's competitiveness through increased investment in marketing, distribution, modern trade, and high-class products."

Meanwhile, SSI Securities forecasts that SABECO’s net profit could grow by 18.5 per cent in 2022.

SABECO is the leading beer producer throughout the country with 26 factories and a total capacity of two billion litres per year. The beer maker hit approximate revenues of $1.33 billion and net profits of $208 million for 2021 as a whole, reflecting increases of 20 and 7 per cent on-year, respectively.