Plans to double the brewery capacity at the site will bring Diageo’s overall investment in the area to an estimated €457.5 million.

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Construction work at the brewery has been continuing since June last year

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The drinks giant said it believes its current plans will mitigate around half of the impact of these higher costs.

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Diageo, which also owns Johnnie Walker whisky and Gordon’s gin, said Guinness sales have seen ‘extraordinary’ growth in recent months.

The spirit giant has said it is talking with the US Government over upcoming tariff policies which could ‘impact’ its sales recovery.

A spokesperson for Diageo said it has no intention to sell either the Guinness brand or its stake in Moët Hennessy.

Bloomberg News reported on Friday that the drinks giant is also reviewing the future of its 34 per cent stake in Moët Hennessy

Colm hit the headlines before Christmas for couriering over barrels of stout to his brother Breen's pub in the city's White Chapel to ensure a steady supply of the black stuff

‘It’s trendy now to appreciate the Irish things,’ one Guinness drinker in Dublin said.

The goal of the investment is to phase out entirely the use of fossil fuels in its direct brewing operations.

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The Guinness and Gordon’s gin maker saw shares dip in early trading on Tuesday after it revealed some shoppers are shifting towards cheaper drinks.

‘Police cars stop, ambulances stop, the whole road comes to a standstill,’ carpenter Eoghan Kelly said of the tradition.