However, the group is thought to be relocating production to a new facility in the north side of Dublin.
Diageo carried out a review of the 64 acre site in June 2007 at a time when the company was taking a hard look at all brewing operations in Ireland - with a move to quit the Dublin city centre site, where Guinness has been brewed for almost 250 years, on the cards.
"The Diageo brewing business is considering a number of important investment decisions on upgrading and renewing its brewing facilities in Ireland in the coming years," the company said in a statement.
It said the review was then at a "very early stage" and that reports that the company was preparing to move from its landmark St James's Gate site on the banks of Dublin's River Liffey were "speculation".
"No decisions have been made or will be made until the assessment is completed," the world's largest alcoholic drinks company said.
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The site, where Arthur Guinness took out a 9,000 year lease on a disused brewery in 1759, has grown into what the brewer now describes as "a prime 64 acre (25 hectare) slice of Dublin".
However, the land could fetch as much as €3 billion if Diageo implements its plans to move production to a greenfield site on the outskirts of the capital.
Back in June, David Gosnell, Diageo's Managing Director for Global Supply, said it would be 2008 at least before the company completes its review.
However, current reports point to an imminent decision and what looks like being the end of an era for Guinness, whose brewery and Dublin visitor centre has been synonymous with all things Ireland for decades.
Commenting on the speculation, the senior executive said last year: "Diageo fully recognises the huge importance of St James's Gate in the history of Guinness and Dublin city and this important aspect of our brand and heritage will be fully embraced in the assessment," he said.
Today (Friday) a spokeswoman for Diageo had little more to add, and said: "As announced in June of last year Diageo has commenced a full assessment of its investment options for its brewing operations in Ireland to enhance the long-term competitiveness and sustainability of the business in Ireland.
"The assessment is currently underway and it is not anticipated to be complete until sometime in 2008.
"Since the assessment started there has been ongoing speculation as to its potential outcome and as a consequence Diageo has taken a decision not to comment on speculation but to communicate fully once a decision has been reached," she said.
Guinness is brewed at almost 50 sites around the world but some 500 million litres of the stout are still produced at St James's Gate, which also houses a visitor centre, shop, bars and restaurants.
(JM)(BMcC)
