(Ecofin Agency) - The brewing giant, which recently bought South African spirits producer Distell, plans to build a new brewery and malting plant.

Brewing group Heineken announces it will invest ZAR15.5 billion (about $852 million) in South Africa over the next five years.

The investments, which were announced at the 5th South Africa Investment Conference (SAIC), include the construction of a new brewery ($165 million) and a malting plant (about $93.5 million). The group will also invest nearly $600 million to maintain and expand its operations in South Africa. 

In November 2022, Heineken announced its plan to buy South African spirits producer Distell for $2.4 billion. This transaction received the approval of the competition authorities last March. The operation should allow the Dutch brewer to combine its South African subsidiary (Heineken South Africa), Distell, and Namibia Breweries in a new entity called Heineken Beverages.