2.5 million euros is planned to attract for creation of joint venture PAGET on timber harvesting in 2011


The Belarusian-Polish venture PAGET on the harvesting of timber in the Vitebsk oblast plans to attract 2.5 million euros by 2011. This was announced on November 19 by the Minister of Forestry Mikhail Amelyanovich.

According to him, these funds will be sufficient to arrange the initial stage of manufacture on the harvesting of timber.

At the moment the owners hold negotiations with foreign investors. A distinctive feature of this investment project is that timber will be harvested in remote places. It is planned to harvest 100 cubic meters in 2011 and later volumes will grow.

"In the making of this company stable and viable, the funds will be invested in increasing capacities. Raw material for the joint venture will be provided by the forest enterprises of the Vitebsk Oblast" - the minister said.

He added that 2.5 million cubic meters of timber may be harvested by third parties, including private entities and foreign companies. "We expect that private business will take an interest in harvesting timber, as rules of harvesting in Belarus are rather simple", - said Mikhail Amelyanovich.

According to (www.belta.by)