Image:Beer producer South African Breweries has canned local capital investment projects worth R5bn over the next two years due to the lockdown that has seen the sale of alcohol being suspended.
"These funds were previously scheduled as part of its capital allocation programme for this financial year, while an additional R2.5bn planned expenditure for the next financial year remains under review. "This decision is a result of the first, and current, suspension of alcohol sales which has led to significant operating uncertainty for ourselves, our partners, as well as colleagues in the industry, including participants in the entire value chain, and which impacts over one million livelihoods across the country”.
"This decision will also have an impact on the external supply chain companies that had been selected for these upgrades.
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SA Breweries cans investment projects worth R5bnBeer producer South African Breweries has canned local capital investment projects worth R5bn over the next two years due to the lockdown that has seen the sale of alcohol being suspended. The SAB said in a media statement on Monday it was cancelling a R2.5bn investment project that was planned for this year while also reviewing another R2.
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Alcohol sales ban forces SAB to cancel R5bn investmentThe investments that had been considered had included upgrades to operating facilities and the installation of new equipment at selected plants
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SAB stops R5bn investment because of alcohol ban 'which affects a million livelihoods'SAB announced on Monday that it had 'halted' R5bn in investments in the country over the next two years due to the ban on alcohol sales.
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SAB stops R5bn investment because of alcohol ban 'which affects a million livelihoods'SAB announced on Monday that it had 'halted' R5bn in investments in the country over the next two years due to the ban on alcohol sales.
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SA Breweries cans investment projects worth R5bnBeer producer South African Breweries has canned local capital investment projects worth R5bn over the next two years due to the lockdown that has seen the sale of alcohol being suspended. The SAB said in a media statement on Monday it was cancelling a R2.5bn investment project that was planned for this year while also reviewing another R2.
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