RUSSIA: Baltika doubles Siberian brewery spend
Baltika Breweries has doubled its spend on a new brewery in Siberia.
The Russian brewer, majority-owned by Baltic Beverages Holding, said yesterday (19 April) that it will spend EUR130m (US$176.8m) on the facility. In December last year, Baltika said it would invest EUR65m in the new site, to be based in the Siberian city of Novosibirsk. The extra funds will give the brewery an annual production capacity of 4.5m hectolitres, twice the originally predicted amount.
The construction will be financed by the company's own resources and is pencilled in for a completion date of mid-2008.
"The success of 2006 allowed us to adjust the plans on the construction of the brewery in Novosibirsk," said Baltika president Anton Artemiev. "The growing regional market potential furthered the decision-making about increase of capacities of the constructed brewery."
The brewery will be Baltika's eleventh plant in Russia.
Baltic Beverages Holding is jointly-owned by Carlsberg and Scottish & Newcastle.
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