Business news

MINSK, 16 February (BelTA) – The joint Belarusian-Chinese company JSC SP ABC-Invest will implement an investment project in the agricultural industry in Minsk Oblast, the National Agency for Investment and Privatization informed.

The parties to the joint venture are China’s SINOCONST and Belarusian farm ABC-Agro. The total value of the investment project is $15.6 million, involving Chinese foreign credit lines of $12 million for 14 years. SINOCONST will provide $2 to 3 million in direct investments.

The project will upgrade a pig farm (capacity of 11,500 head per year), build an animal feed shop (capacity of 3 tonnes per hour), renovate and retool the meat processing plant (capacity of 5 tonnes) and revamp a grocery store and a bar in Molodechno.

“KFH ABC-Agro has been engaged in pig production for 10 years. The company has been performing well and posting profits,” said ABC-Agro head Vladimir Artyukhevich. “This investment project is aimed at improving life in the countryside. We plan to create 105 new jobs in Molodechno District and Vileika District.” The project provides for the use of innovative resource-saving technologies.

Machinery Industry Construction Group Inc. (SINOCONST) is part of Sinomash Corporation and is one of the oldest and largest state-owned construction companies in China. Founded in September 1953, SINOCONST has taken part in hundreds of large and medium-sized key projects in various sectors such as machinery, metallurgy, electric power, chemicals, petroleum, electronics, light industry, radio and television, the environment, construction, etc.

In Belarus SINOCONST is involved, as a contractor of engineering brands SAMS Engineering and CITIC Construction, in the construction of a concrete plant, Svetlogorsk pulp plant, automobile factory BelGee in Zhodino, a large hotel and business compound with a tennis center in Minsk.