Indofood-Asahi beverage venture

BINTAN: Japanese beverage group Asahi is betting on an Indonesian sweet tooth in a joint venture with PT Indofood CBP Sukses Makmur Tbk worth up to 2 trillion rupiah (US$213.11mil) to make non-alcoholic drinks.

“The beverage market is expected to grow more than double by 2020 from US$4bil in 2011. That's why we invest in a joint venture with Indofood,” said Naoki Izumiya, president and representative director of the Asahi Group. Reuters