Baltika Brewery opens its thermoelectric power plant in St. Pertersburg

Baltika Brewery has opened its own thermoelectric power plant in St. Petersburg, Taymuraz Bolloyev, president of the company, told journalists pointing out that the cost of the plant was $12m. He noted that the plant would cover 100 percent of the company's demand for heat energy and 50 percent of the electrical energy. According to Balloyev, tomorrow's meeting of the board of directors should consider the question of constructing a thermoelectric power plant for Baltika-Don Brewery in Rostov-on-Don. Expenses on constructing the second station will be lower than those in St. Petersburg, the president added. This project is to be implemented within the framework of the company's investment policy, according to which 50 percent of investments in the nearest perspective are to be directed to projects aimed at decreasing production costs. That is why a number of projects concerning the purchase or construction of new breweries are unlikely to be implemented, he specified. He also declared that the company was considering the possibility of starting the production of aluminum cans due to a 40 percent import tax on aluminum cans introduced on January 1, 2002. Balloyev also said the company owned 1,000 railway cars for transporting cargo.

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