Business news

MINSK, 24 September (BelTA) – The Belarusian mechanical engineering company Amkodor has plans to supply machinery to Bangladesh and Sudan to the tune of $17 million and $5 million respectively till the end of the year, Leonid Pinchuk, chief of Amkodor’s department for sales in the CIS and faraway countries, told BelTA.

“We continue shipping machinery to Bangladesh. We have already sold machines to the tune of over $45 million; we are working to supply another batch of products worth $17 million. We are also set to sell 69 machines to Sudan worth over $5 million. Contracts on these two projects have already been signed; we just need to settle technicalities with the banks. The products will be delivered by the end of this year,” Leonid Pinchuk said.

The company keeps selling to Egypt. A letter of credit has been issued to supply the first seven machines to the amount of $500,000. Another arrangement is to be reached in the nearest future. “A contract to supply machinery worth $500,000 by the end of the year is to be signed this week. However, during the presentation of Amkodor machinery during the Day of Field, Chairman of the Board of the Egyptian Company for Agriculture and Rural Development (Amkodor’s official representative in Egypt) Mustafa Hadhod got interested in several machines on display. Promagroleasing suggested financing; therefore we agreed to discuss the matter again this week. The final amount might be increased up to $1.5 million,” Leonid Pinchuk said.

The company supplies its products to Cuba on a regular basis. Apart from that, it is eyeing the Brazilian market. According to Leonid Pinchuk, this market is saturated with machinery made by international companies; however Amkodor has found ways to spark the interest of Brazilian consumers. One of them could be partial localization of machinery production on the territory of the South American country. In early 2019 the $15 million project will enter its active stage of implementation.

The company has been working for two years on a major project with Angola. “We hope that the project will be implemented and the first batch of machinery consisting of seven machines worth $1 million will be shipped in Q1-Q2 next year,” he noted.

All in all, the company is working hard to explore new markets: last year alone it launched supplies to six new countries (Egypt, Sudan, the Congo, the United Arab Emirates, Mauritania and Cuba). Leonid Pinchuk underlined that the most important thing is to secure a foothold in the ‘points of support’ and then to promote products in other countries.

The holding company Amkodor comprises 29 organizations, including 19 factories that make over 120 models and modifications of agricultural machines, road construction and maintenance machines, machines for housing and utilities industry, forestry industry, production sector, and logistics.