United Breweries Ltd's will invest heavily in capex, said chairman Vijay Mallya on the sidelines of the annual general meeting of the company. Mallya said that he is looking at starting greenfield projects in Karnataka and Bihar. He also informed that the company had adopted many cost-cutting initiatives to boost performance.
Meanwhile, the company recorded 6% jump its in FY12 sales which can be considered good, as per industry standards.
Mallya also informed media about a meeting which he will have with bankers tomorrow and asserted that the market is full or rumours from unnamed sources on group company Kingfisher Airlines. This statement was with reference to media reports stating that bankers are likely to take a tough stand against KFA which is unable to sustain smooth operations.
He also hinted that he is in talks with foreign investor for stake sake in KFA but also said that it is too early to comment on status report on FDI in aviation. Watch the accompanying video for more updates.......
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