Belarus to implement $1.77 billion worth of investment projects in 2011

Belarus is set to implement over 80 major investment projects to the tune of more than $1.77 billion in 2011. The list of the projects was adopted by Resolution No. 430 of the Council of Ministers of 4 April. 

Over $1.29 billion of domestic investments will be used to implement the projects, including $0.97 billion worth of loans, and $0.48 brillion worth of external investments. Taking part in the projects will be over 70 companies and enterprises. 

Five companies of the Industry Ministry will run six investment projects, including BATE, Minsk Tractor Works, Minsk Motor Plant, Minsk Bearings Plant and the Rudensk company. 

BATE will upgrade the production using innovative technologies, set up an assembly complex and turn out new products to boost the exports in 2011-2015. The company will start manufacturing insulation boards from extruded foam polystyrene to increase energy efficiency in construction. 

Belarusian Cement Plant (the Ministry of Construction and Architecture) is to complete the construction of the second technological line to produce cement using dry-mix process and the coal preparation section to switch from gas to coal in the production of clinker. 

Grodnoenergo is set to finish the construction of the Grodno hydroelectric power plant on the river Neman. Several investment projects are nearing completion at the artificial fiber plants in Mogilev, Grodno and Svetlogorsk. Naftan will continue building an installation for delayed residual oil coking. 

The major investment projects slated for 2011 will be implemented by enterprises affiliated with the Transport Ministry, Ministry of Agriculture and Food, Bellegprom Concern, Bellesbumprom Concern, Belgospishcheprom Concern and Belbiopharm Concern. Apart from that, about 30 projects will be implemented in the regions under the auspices of the oblast executive committees and the Minsk City Hall. 

The resolution envisages submitting quarterly reports to the Economy Ministry on the progress in the implementation of the projects. The government is drafting a regulation on the reimbursement of part of interest rates for using bank loans to the participants of the investment projects included in the list. The deputy prime ministers will be responsible for executing the resolution.

According to