Russia: Maltster Russky Solod gets loan to modernize its facility

Russia’s malt producer Kursky Solod has secured a RUB200 mln loan from the VTB Bank to modernize its facility, MSP Corporation, which acted as guarantor, reported on September 4.

The credit was granted within the programme for stimulating small and medium-size enterprises, the bank said.

“We plan to expand the production volume and extend our product line,” Kursky Solod General Manager Evgheni Belinchenko said.

In 2016, Kursky Solod’s parent company GrainRus received a loan of RUB100 mln to modernize the equipment at the factory, which allowed for implementing modern technologies of processing raw materials and start production of up to 6.5 thousand tonnes specialty malts per year. The company also launched a line of packing barley malt into 25 and 50 kg bags.

Currently Russky Solod produces 70 thousand tonnes of Pilsen malt per year. The company’s storage capacity is 46 thousand tonnes. Its production is sole in Russia and exported to Vietnam, Germany, Georgia, Denmark, Finland, and CIS countries.

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