New Delhi, Dec 4 (PTI) Alcobrew Distilleries Tuesday said it plans to invest Rs 100 crore to set up a new manufacturing unit as well as in brand promotion.Also Read - Good News! You Can Now Travel From Dharamshala to Mcleodganj in 5 Minutes

The company said the proposed investment would help the company double its business in next 2-3 years. Also Read - Beyond Rishikesh, Top Places in India Which Are Heaven For Yoga Lovers

“Investment of Rs 100 crore will help us double our business in the coming 2-3 years,” said Alcobrew Distilleries Chairman and MD Romesh Pandita. Also Read - Himachal Pradesh Imposes Further Restrictions; Govt Offices to Run With 50% Staff. Full Guidelines Here

The company plans to raise Rs 65 crore through debt and Rs 35 crore from its reserves to fund the investment, Alcobrew Distilleries said in a statement.

The company, which has received a letter of intent from Himachal Pradesh government to set up a malt distillation and saturation plant, said it aims to focus on premium and semi-premium whisky segments.

“We are also exploring investment and funding opportunities to expand the business and create a high revenue generating organisation,” Alcobrew Distilleries Chairman and MD Romesh Pandita said.

Alcobrew Distilleries has brands like ‘Golfer’s Shot’ in premium whisky range and ‘White & Blue’ in the semi-premium range.

This is published unedited from the PTI feed.