Hyderabad: Cobra Beer, Britain''s largest selling Indian beer, plans to set up a green field brewery project in Andhra Pradesh, preferably in Hyderabad, with an estimated investment to the tune of $10 million.

Cobra Beer CEO Karan F Bilimoria says he had expressed interest in setting up the project to Andhra Pradesh Chief Minister N Chandrababu Naidu a few months ago and the latter''s response was positive. The project will be operational in less than five years.

The company, which has launched its premier Cobra Beer brand in Mumbai, Goa, New Delhi, Pune, Kolkata and Hyderabad, is firming up its strategy to either acquire an existing brewery or to have tie-ups to establish base in India.

"We are in the process of making an offer to an existing brewery and at the same time are in discussions with a couple of others for possible tie-ups," says Bilimoria. "The present retail price of Rs 99 per 330 ml for the premier brand could be brought down substantially with brewing facilities in the country."