The joint venture will operate under the name Crown Beers India Ltd., and includes a new 500,000-hectoliter brewery in the southern city of Hyderabad. The state-of-the-art brewery will be completed in March 2007.

"International expansion is a key part of Anheuser-Busch's growth strategy, and while India is a small beer market today, it is growing rapidly and has tremendous long-term potential," said August A. Busch IV, president and chief executive officer of Anheuser-Busch Cos., Inc. "This joint venture with Crown brings the experience and skills of both companies together with a world-class brewery to introduce Budweiser to beer drinkers in India."