Gomelsteklo seeks to raise FDI for two projects worth 98 mln Euro

Gomelsteklo seeks to raise foreign direct investment for two investment projects worth €98 million, First Deputy Minister of Architecture and Construction of Belarus Mikhail Abramchuk told reporters.

The Ministry of Architecture and Construction will present Gomelsteklo’s two projects at Belarus Investment Forum in Frankfurt am Maine on November 17. These are the projects to upgrade the glass production line (€45 million) and to create a facility for industrial processing of glass and new products (€53 million).

In early 2010, the company commissioned a new float glass production line, Mikhail Abramchuk noted. The line now operates at full capacity which is 780 tons of glass per day. The total project cost was €210 million. Now Gomelsteklo is upgrading the old production line and working on a new facility for industrial processing of glass. These two new projects will help the company expand the product range, increase the output, and start manufacturing mirror, laminated, energy-efficient, and tempered glass. Gomelsteklo glass is sold domestically and internationally, including in Russia, Ukraine and Germany. By the way, Germany has supplied the equipment for the existing production line in Gomel. So now Gomelsteklo is looking to find partners or investors in Germany again.

“If we do not manage to attract foreign direct investment, then we will carry out these projects with the help of loans,” said Mikhail Abramchuk. He noted that such options as the sale of Gomelsteklo’s shares or creation of a joint venture are also possible.

The First Deputy Minister also spoke about another important project, namely the establishment of a road metal mining and processing facility. The project is expected to be carried out near the town of Mikashevichi. There are plans to build a new plant with the annual capacity of 3 million tons of road metal. The project cost is $380 million. The project will be also presented at Belarus Investment Forum in Germany.

According to www.belta.by