The company which produces Guinness says it does not yet know if its brewing facilities could be moved from St James's Gate to a greenfield site on the outskirts of the city.
Diageo confirmed this afternoon that it has begun an assessment of its brewing operations in Dublin, Dundalk and Kilkenny, but it said reports that the brewing facilities could move from St James's Gate are 'speculation'.
Diageo says its assessment of operations is at a very early stage and is due to be completed by 2008.
It said that any decision about the future of the site will take into account its historical importance to Guinness and to Dublin city.
It is believed that selling the site and building a new brewery would be the most cost effective way for the company to upgrade its brewing facilities and it is estimated that the 55-acre site could fetch up to €1bn if sold.
The Guinness Brewery has operated at St James's Gate since 1759 and is Ireland's most popular tourist attraction.
