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TBILISI: Castel Sakartvelo To Bottle More Beer

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  • TBILISI: Castel Sakartvelo To Bottle More Beer

    CASTEL SAKARTVELO TO BOTTLE MORE BEER
    By Christina Tashkevich

    The Messenger, Georgia
    Dec 19 2006

    The European Bank for Reconstruction and Development (EBRD) has
    approved a USD 15 million loan to B.I.H. Eastern Ltd, the holding
    company of Groupe Castel's beer, wine and mineral water operations
    in Armenia, Azerbaijan, Georgia and Russia. The bank says the loan
    would be used to strengthen the two breweries Castel Sakartvelo in
    Georgia and Kotayk Brewery in Armenia.

    Castel Sakartvelo currently holds a 14 percent share in the beer
    market in Georgia. It is one of two breweries in the region that
    produces premium brand beers.

    "EBRD's loan will help the company strengthen the company's operations
    by upgrading and enlarging its logistics as well as increase its
    marketing activities," the bank's press release stated on Monday.

    CEO of B.I.H. Eastern Ltd Jean Paul Lanfranchi told The Messenger
    earlier in December that the company plans to invest more in canning
    and bottling beer at Castel Sakartvelo.

    "We have been refurbishing the equipment, so we would be able to
    increase our capacity of bottling," he said.

    Armenian Kotyak Brewery who has been facing increased competition in
    the last few years with the help of a loan will invest in improving
    its products.

    EBRD Director for the Caucasus Mike Davey said the investment is a
    good example of the support the bank can offer agribusiness companies
    in the region with its capacity for longer-term lending.

    In early December, the EBRD together with the European Investment
    Bank (EIB) announced plans to finance EU-supported projects in the
    Southern Caucasus.

    The EIB has been authorised by the EU Council to extend loans that
    could exceed EUR 3.7 billion through 2013 (or about EUR 500 million
    per year) for co-financing investment projects in the region of
    Eastern Europe and Central Asia.

    EIB President Philippe Maystadt said in December the region covered by
    the agreement is critical because it includes the countries that are
    close neighbours of the EU, all of which need modern infrastructure
    that will boost economic development.

    He added the most efficient way to undertake these large infrastructure
    projects is in partnership with the EBRD, which already has a good
    knowledge of the region.
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