Belarus to implement eight major investment projects in woodworking industry

Eight major investment projects in the Belarusian woodworking industry are supposed to be implemented in 2011-2015, said Prime Minister of Belarus Sergei Sidorsky as he met with personnel of the Belarusian woodworking company Ivatsevichdrev on 26 November.

“We are open to investments in this industry, provided the investors will not compete with domestic woodworking companies. At present foreign companies operate in Belarus under common regulations, observing these rules, buying raw materials via commodity exchanges and exporting their products,” said Sergei Sidorsky. In the next five-year term Belarusian companies are supposed to be developed, grow larger and create products with a high added value. Focus is shifted to domestic companies.

The Prime Minister told Ivatsevichdrev personnel that in the last few years with the government’s aid a large-scale project has been going on to modernize Ivatsevichdrev and increase the competitive ability of its products. In Autumn 2011 the company will commission a new enterprise to make chipboards and laminated boards, with the output capacity of 250,000 cubic meters per annum. With the extra capacity, Ivatsevichdrev will be able to quadruple its output, creating new jobs.

Sergei Sidorsky also said that the Ivatsevichdrev administration and the Belarusian forestry industry concern Bellesbumprom are thinking about two investment projects that the company may implement in the next five-year term. There are plans to start manufacturing furniture and to start manufacturing carbamide-formaldehyde concentrate (KFK-85). The latter will provide the company with proprietary resins, reducing the dependence on import. In addition, Bellesbumprom enterprises will reduce the import of raw materials.

The Prime Minister demanded that Ivatsevichdrev should step up efforts to create the furniture enterprise. According to Sergei Sidorsky, it is inadvisable to delay the project. With the Customs Union now and the Single Economic Space of Belarus, Russia, and Kazakhstan in the future, Ivatsevichdrev has an access to the huge market that can attract investors, including investors in furniture industry. “You should not be late,” he said.

Visiting the company, the Belarusian Prime Minister got familiar with the progress in starting the production of chipboards and laminated boards. The work began in 2008 as part of the state program for Belarus’ innovation development in 2007-2010. The new manufacturing wing has been erected. The administrative wing is being built. The equipment is being installed step by step. The new facility is supposed to become operational in October 2011.

According to