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Diageo to invest £1bn in Scotch whisky

Diageo are set to invest £1 billion in Scotch whisky production over the next five years, in a move set to quench the global thirst for the alcoholic beverage.

The drinks giant is set to build a new distillery in Speyside, along with new warehouses to store the product. More details of the investment will be released over the coming months, but it is expected that the various schemes will create up to 100 full-time jobs.

The project will also create 250 construction jobs over a five year period, along with an additional 500 jobs in the wider economy.

Diageo produce Johnnie Walker, J &B and Bells whisky brands, and has 28 distilleries employing more than 4,000 people across Scotland.

Over the past five years the firms Scotch brands have grown by 50%, totalling £3 billion this financial year.

Commenting on the figures, Diageo chief executive Paul Walsh commented: : “We expect that success to continue, particularly in the high growth markets around the world, which is why we are announcing this major investment in Scotch whisky production, committing over £1 billion in the next five years, to seize that opportunity for global growth.

Scotch whisky is a significant manufacturing export in the UK, and has helped to drive domestic investment and job creation through successfully exporting to high growth markets around the world.

This was posted in Bdaily's Members' News section by Ruth Mitchell .