22 August, 2003

The biggest Russian brewer Baltika said on August 15 that its malting plant in Tula would be able to purchase barley to the amount of US$10 million per year. Thus Baltika will contribute to the agricultural development in Tula, said the company. A meeting was held on August 15 regarding the schedule and requirements for the barley of crop 2003-2004. The malting plant in Tula will need about 11 thousand tons of high quality malting barley per year.

Baltika invested about US$32 million in its malting plant in Tula and plans to open it in the second half of 2004. The company is forecasting the pay-back period to be 6-9 years, which depends on the prices for raw materials.

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