[10 April 2015, Stock & Land] Gregor Heard has written an article in Stock & Land that was published on 10 April regarding AusCham Member, Interflour (and former Titanium sponsor) setting up South East Asia’s first major malting plant.
Below is an edited extract of the original article which can be viewed by clicking here.
INTERFLOUR, the joint venture partly owned by Western Australian co-op CBH, is setting up a new malting business based in Vietnam, in what will be South East Asia’s first major malt plant.
The deal represents a major win for Australian malt barley producers, with Australia set to supply the lion’s share of product required for the plant.
InterFlour plans to have its Intermalt business, based in Ho Chi Minh City, Vietnam, online by the end of next year.
Chief executive of Interflour Greg Harvey said the first phase would see the production of 110,000 tonnes of malt, or 135,000 tonnes of barley, rising to 220,000 tonnes of malt, or 270,000 tonnes of barley, at full production.
The project is valued at around $90 million, with the plant to be built on land at Interflour’s Cai Mep Agri Port, which already includes a flour mill.
InterFlour already sources Australian wheat for processing at the mill and will expand to also import malt barley.
Intermalt Vietnam general manager James Kirton said the majority of the barley would be sourced from southern and western Australia.
He said the Intermalt facility was likely to change the face of the brewing industry in Vietnam.
“In 2014 European malt made up approximately 50 per cent of all malt imported into Vietnam, whilst Australian malt only made up 30 per cent, but we’re hoping to invert these numbers…”
Mr Kirton said Vietnam was already the largest beer market by volume in South East Asia, and also had a keen appetite for a quality product…
Intermalt is looking to sign deals with major brewing players in Vietnam, with the Vietnamese-malted product replacing imported malt…
*** To view the original article in Stock & Land, click here.