Tsingtao Beer to open brewery in Thailand

BEIJING, Oct 18 (Xinhuanet) -- China's brewery giant Tsingtao Beer announced on Monday that it plans to set up its first overseas plant in Bangkok, the capital of Thailand, as a significant step towards globalization for the century-old brand, which was introduced by the Germans 108 years ago.

The plant, which will begin operations in early 2013 with an estimated total investment of $100 million, will have an annual production output of 200,000 liters and will create hundreds of local jobs, said Jin Zhiguo, chairman of Qingdao, Shandong-based Tsingtao Brewery Co Ltd. The company's branch in Thailand, operating as Tsingtao Beer (Thailand) Co Ltd, will be the sixth-largest brewery in terms of production output in the world.

"The exploration of the Southeast Asian market will be the first stop for Tsingtao beer in the quest to expand to European and Oceania markets," Jin said. "It is a solid step towards multinational management after careful preparation and accumulation."