Belarus: Malting plant Belsolod was granted a budgetary loan of BYR3.4 billions

The Belarusian government granted the malting plant Belsolod with a loan worth BYR3.4 billions, in order to allow the factory to compensate its turnover financial liabilities, The Russian Brewers Union released October 09. In return, the Government will increase its stake in Belsolod, thus allowing the malting plant to compensate the loan. In addition, Belsolod was exonerated for the payment of taxes devolving upon the release of additional stocks and the increase of the company’s social capital.

Presently, Belsolod started works on the project of the construction of a new brewery. Construction is assumed to begin in 2006-2007 and it is assume to cost nearly EUR25 million.