Belarus: Krinitza brewery receives $28 million from Government

OAO “Krinitza” will receive a Guvernment loan of Br62.4 billion ($28 million), according to Grigory Petkevici, brewery’s general director, Interfax reported March 5.

The loan is designated to further reconstruction and technical retooling of the brewery in order to reach a production capacity of 2.4 million hectolitres in 2009.

This means that the company will be developed by the Belarusian state and don’t longer need a foreign investor.

In 2007, Krinitza brewery produced 1.45 mil hl of beer, which is 8.1% less than in 2006. For 2008 the company plans a production of 1.65-1.67 mil hl of beer.

07 March, 2008