Russian malting company OAO “Russky solod”, a subsidiary of Avangard bank has announced recently about allotting a place for building its third malting plant, which will be constructed in Orlovsk Region this summer. It is expected the new plant will process up to 130 thousand tons of barley and will have a production capacity of 100 thousand tons of malt per year. The project costs are accounted at $30 million.

Avangard bank plans to invest about US$ 100 million in building malting plants in Russia. The bank plans to construct three malting plants by the end of 2004 with the whole production capacity of 300 thousand tons per year. According to analysts, these projects will allow to provide Russian brewers with 30% of malt. Russian brewers need about 1.1 - 1.2 million tons of malt per year.

The construction of the first malting plant of “Russky solod” in Moscow Region has been finished. The construction of the second plant has recently begun in Voronezh Region.

24 April, 2003