Belarusian privately-owned joint venture Syabar Brewing Company, located in the city of Bobruisk, in Mogilev Region, counts on being able to get a malt import permission, should there occur brewer’s barley crop failure, the chairman of the supervisory council of the brewery, Sergei Levin, told a press conference on Wednesday.
The company hopes that this year’s barley harvest will enable Belarus’ state-run malt monopoly Belsolod to provide enough Belarusian malt for the home market, he added, when commenting on the situation with malt supplies.
He said that Belsolod was an up-to date plant able to produce high-quality malt. “We’d rather Belsolod accepted only high-quality Belarusian barley in August-September to produce top-grade malt after several years of slack,” the chairman of the supervisory council added.
Otherwise the company would have to get an authorization to buy malt abroad. Syabar has a big quota to buy malt abroad, which should last till November. The enterprise is buying malt in
Syabar Brewery CJSC JV (previously known as Belarusian Brewery CJSC JV) was registered in February 2004. The company was set up by Detroit-Belarus Brewing Company LLC (DBB Company), whose founders are American investment group Detroit Investment Ltd. and the International Finance Corporation, and Dednovo OJSC (Bobruisk, Mogilev Region).
As formerly reported by Interfax, in June 2005 the IFC agreed to contribute $3 million to Detroit-Belarus Brewing Company’s authorised stock and grant a $7 million loan to Belarusian Brewery CJSC. Detroit-Belarus Brewing Company and Belarusian Brewery CJSC participated in the privatisation of Dednovo OJSC.
The company has $8.2 million in statutory capital and over $23 million in assets.