In this week's Business News, Czech Budvar comes to China, high costs push Czech transportation companies out of business, both wind and gas power usage is set to increase and a building boom in the Czech Republic sees the country at the top of the EU construction table.
Budvar goes to China
Czech brewery Budějovický Budvar is to begin selling its beer in China. The beer, which will be known as Bai De Fu, which means “Much Luck” has been renamed as Chinese people have difficulty pronouncing the word Budvar. Budvar has been exported to Hong Kong since 2006, and on Friday, the first two consignments of the beer were shipped to China. It is expected that between 700-800 hectolitres will be sold to the country this year alone. At present other Czech breweries are not planning to expand their markets to China, remaining wary of high transport costs. Budvar is sold in numerous places across the globe including South Korea, Mongolia and Brazil.
High costs pushing Czech transportation companies out of business
Fivefold increase in wind power expected
Czech set to become a gas nation
Staying with energy, as coal power stations close and the construction of new nuclear power stations remains in limbo, the Czech Republic is set to become a major user of natural gas. Energy giant ČEZ, the J&T group as well as several other companies are all seeking to construct new gas fuelled power stations. At present, coal stations remain more financially viable, but projections suggest that this will soon change as coal prices drastically increase and supplies fall. Current plans would see new gas-fuelled power stations come into operation within two years, while negotiations are underway with Russia to gain greater supplies. Naturally, a greater reliance on Russian gas has some worried about excessive dependence on that country, but despite this, at present gas is viewed as one of the greenest ways for the country to provide for its energy needs.