SABMiller Zimbabwe targets $112 million
SABMiller’s
Zimbabwe unit will spend $112 million in the next two years to ramp up
output, the chief executive said, as it bets the recovery from economic
crisis will boost demand for beer and soft drinks.
Delta Corporation,
in which SABMiller has a 36.8 percent stake, was one of the companies
hardest hit by Zimbabwe’s economic meltdown in 2008, which sent
inflation to 5 billion percent and left the currency worthless.
Joe Mutizwa told
Reuters the company will spend $56.4 million of its own cash in the
year to March 2011 for capital expenditure, including the completion of
a beer plant in the city of Bulawayo.
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