State share in authorized funds of Krynitsa, Brestkoye Pivo can be increased

The share of the state in the authorized funds of Krynitsa and Brestkoye Pivo breweries can be increased. This is stipulated in the strategy of the brewery industry development drafted by the Belgospishcheprom concern, chairman of the concern Ivan Danchenko told BelTA. Belgospishcheprom has drafted the strategy of development of Belarusian breweries which controlling block of shares belongs to the state. They are Krynitsa, Brestskoye Pivo and Belsolod. In accordance with the strategy, the companies will be upgraded with their production capacities increased. In 2006, state-run breweries utilized $26.2 million worth of investments, of them $18.8 million were own funds of the companies. As of January 1,2007 production capacities of Belarusian breweries totaled 48.8 million decalitres a year. In the nine months 2007, Belarusian breweries utilized $30.5 million investments, including $20 million of their own funds. Krynitsa invested $12.5 million in the modernization project, Belsolod - $300,000, Olyvaria - $8.9 million. The projected beer production in Belarus this year is 35 million decalitres with import estimated at 9 million decalitres.