The proceeds of the EBRD loan will be used to finance the construction of a new CO2 generation plant to produce liquid carbon dioxide gas, which is used in the beverage industry, for its own production as well as for sale to other customers.

Located near Biyat’s brewery facility in the city of Abadan, the new plant will support the ongoing expansion of the brewery, enabling it to address supply bottlenecks through in-house generation of liquid carbon dioxide gas. The project will help Biyat more than double its peak production capacity from 100 to 250 hectolitres per day.

“The EBRD funds will enable Biyat to increase its production capacity, addressing the growing demand for high quality beer in Turkmenistan. The project will stimulate competition in the beer and liquid carbon dioxide markets, boosting the development of the beverage industry in the country, and will strengthen Biyat’s corporate governance”, said Masaru Honma, EBRD Director for Central Asia.

“We have big plans for growth and are pleased to work with the EBRD, which is a reliable partner willing to help us in achieving our long term goals” said Rejepmurad Uvdiev, General Director of Biyat.

Since the beginning of its operations in Turkmenistan the EBRD has invested close to €110 million in the country’s corporate, energy, infrastructure and financial sectors, whilst mobilising additional investments worth close to €390 million.

In the agribusiness sector alone, the EBRD has directly committed more than €5.5 billion in over 380 projects across central and eastern Europe and the Commonwealth of Independent States since 1991.