According to President and Managing Director Kalyan Ganguly, the company plans to increase its capacity by 65 per cent to about 165 million cases with this investment.
The expansion will be funded through the proceeds of the recently concluded rights issue through which it raised around Rs 400 crore. The company currently operates 22 breweries across the country.
"We are yet to work out the finer details of where the two new plants will be located. It will be decided on the basis of demand for our products and issue of licences by the respective governments in different states," he said.
Talking to reporters here today after announcing the felicitation of the heroes of the 1983 cricket world cup, Ganguly said the company sold 75 million cases of beer in 2007-08 and is looking at over 30 per cent growth during the current financial year.
In Andhra Pradesh, the company has two breweries and is looking at setting up a massive brewery near Hyderabad, he said.
It has also acquired 55 acres near Hyderabad.
UBL is planning to set up a new plant at Nanjangud in Karnataka at an investment of Rs 200 crore. The company has already acquired 45 acres land for the project.
