Indian beverages group Kyndal has entered into a joint venture with John Fergus & Co Ltd to establish a new malt distillery and bonded warehouse in Glenrothes.
The new distillery will focus on exporting to markets in India, Africa and the Far East and is expected to be operational by 2015
Scottish Enterprise and its international arm, Scottish Development International, have been working with the companies on their development plans and SE is providing a £240,000 Regional Selective Assistance (RSA) grant to support employment at the new distillery.
The project is also being supported by a £1.6 million grant from the Scottish Government’s Food Processing Marketing and Co-operation Scheme (FPMC).
Scotland’s Minister for External Affairs and International Development Humza Yousaf met with Kyndal Group management during his visit to India to promote business links between the two countries.
Mr Yousaf said: “I’m especially pleased to be announcing this good news while in India. This project is proof yet again that there are strong and positive economic reasons for setting up business in Scotland. It is also another reason to celebrate our strong relationship with the Indian business community and an example of why we should seek out more collaborations.
“The Scottish Government is fully committed to supporting this project and I commend Ian Palmer and his company on choosing to set up this operation in Glenrothes. I look forward to watching the company’s progress in Fife and wish Kyndal and its workforce every success for the future.”
Rooma Bussi, India Country Manager of Scottish Enterprise’s international arm – Scottish Development International said: “This is an exciting project which demonstrates the growing opportunities for business and collaboration between Scotland and India. The Scottish whisky industry has seen major growth in recent years and now contributes over £4 billion annually to our economy. There is a rapidly increasing interest amongst consumers in Asia for Scotch whisky, which is leading to new opportunities for smaller distilleries and I’m confident this will be the same for Kyndal and John Fergus & Co in Fife as they look to grow their operations both in Scotland and overseas.”
Mr Siddharth Banerji, Managing Director, Kyndal Group commented: “Kyndal Group is an emerging markets player/. Developments towards rationalization in import duty structures would open up a large market for Scotch Whisky and Kyndal in partnership with John Fergus & Co would like to maximize this huge opportunity. Together, we would launch high quality premium Scotch and ad-mix brands in these markets.”
Ian Palmer, Managing Director of John Fergus & Co adds: “I am delighted to be working again with Mr. Banerji on this great new venture. We chose India as our principle market because of its excellent long term growth potential and its entrepreneurial spirit.
“The Scotch Whisky industry is currently enjoying a period of great demand and expansion and now is the right time to be making such a bold investment. We must however take this opportunity express our great thanks to the Fife Council, the enterprise agencies and the Scottish Government for their support for our project.”
Fife Councillor Lesley Laird, Executive member for Business, Enterprise, Economy & Planning said: “This is a fantastic project which will not only generate employment but very much emphasises that Fife means business.
“Fife has a dynamic and diverse economy and has much to offer different sectors of industry. We’ve already seen investment from major international companies such as Samsung Heavy Industries, Diageo and Amazon and we also recognise the importance local businesses such as John Fergus & Co play in our economy and are keen to give our support.
“We have just formally launched our Economic Strategy a key cornerstone of which is the importance of supporting the business community and making Fife the best place to do business.
“The Council’s Economic Development team, working alongside Invest in Fife, plays a key role supporting businesses that have ambitions of investing and growing in Fife. We look forward to giving John Fergus & Co a warm welcome and wish them every success with their distillery in Glenrothes.”
Story and image from Scottish Enterprise Media Centre