Turkish company Efes Beverage Group announced on April 15, 2003 that it is to invest about US$ 150 million in Russian beer production. The company has already invested US$ 150 million in Russia. Efes registered a turnover of US$ 195 million in Russia. According to Muhtar Kent, the company’s CEO, the main part of the investment will be spent on marketing, production capacity rise and infrastructure development. In addition to its Moscow plant, Efes will open a brewery in Rostov-on-Don by May 2003. Meanwhile the company is finishing the deal about buying the Ufa-based brewery OAO Amstar, which controls 1.5% of Russian beer market. At the beginning of the year Efes acquired a brewery in Moldova. In May, 2003 the company is to open its second brewery in Kazakhstan, for which it was spent US$22 million.

Mr. Kent said the company’s purpose is to increase the production capacity to 800 million litres.

Efes Beverage Group is the leading brewing company in Turkey with a turnover of US$ 1.1 billion. Efes Breweries International (EBI) is a subsidiary of Efes Beverage Group based in Netherlands. EBI controls the company’s business in Russia, Kazakhstan, Ukraine, Moldova and Romania. EBI outputs beer brands like Efes, Stary Melnik. This year the turnover of EBI accounted US$ 300 million, 2/3 of which is related to Russian market.

15 April, 2003