The plant, expected to be operational next year, will manufacture all SMC product lines including liquor, softdrinks and processed food and snacks. The first phase of the venture involves the establishment of a non-alcoholic beverage facility in the 100-hectare industrial complex.
SMC acquired the Amata industrial estate last year from Thai developer Amata City Co. Ltd. in Rayong City, one of the most vibrant industrial estates in Thailand.
SMC said it views Thailand as a strategic investment site due to its huge beverage market, competitive investment and tax incentives, well-developed infrastructure and proximity to other target markets like Cambodia, Laos, and Myanmar.
The company said similar groundbreaking activities are scheduled within the year in Australia, Indonesia, Vietnam, Taiwan, China and Malaysia. The conglomerate expects its annual group revenues to increase by $300 million from sales generated in these markets.
SMC has facilities and operations in the Philippines, China, Hong Kong, Indonesia, Vietnam and Australia. The company’s products, principally beer, are exported to over 20 countries in various regions throughout the world.
SMC has earmarked up to $700 million for planned acquisitions and investments in Asia, aimed at seeking offshore growth to complement its dominant foothold in the local beverage market.
Last year, SMC posted a net income of P7.4 billion and is forecast to earn P8.7 billion this year, helped by increased spending related to May 10 national elections.