The Russian malting group “Russky solod”, controlled by Avangard Bank, has launched its first malting plant near Moscow, Russian Beer Union reported. By the end of 2004 Avangard plans to launch two more malting plants: in Voronezh and Orlovsk regions. The Voronezh maltery is already under construction. Avangard Bank will invest about US$100 million in the project. Each malting plants are to have a production capacity of 100,000 tons. In 2002 Russian brewers used more than 1 million tons of malt, and imported 70%. By 2005 Avangard plans to sell successfully “Russky solod”. According to Avangard in two years its plants will be appreciated at US$150-200 millions. However Avangard didn’t revealed the breweries “Russky solod” has agreements with.

Meanwhile the situation of the malt market will change soon, said the Kompania journal. The main Russian brewers – Baltika, SUN Interbrew, Ochakovo and Krasny Vostok - which brew 50% of beer in Russia, have their own malting plants or build new in order to use only their own malt in two or three years.

08 July, 2003