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4 Feb 2016

New holding company to export Belarusian civil engineering services

MINSK, 4 February (BelTA) – A civil engineering holding company has been registered in Belarus, BelTA learned from Belarusian Architecture and Construction Minister Anatoly Cherny during the press conference held on 4 February to highlight the Belarusian civil engineering industry’s performance and development prospects in 2016.

“A couple of days ago we registered a holding company that comprises 18 enterprises with the total number of workers close to 35,000,” said the Architecture and Construction Minister.

The holding company is called Belstroytsentr. It is supposed to develop the export of civil engineering services. “We are not changing the management structure. These enterprises will stay as independent legal persons, which will operate on their own inside the country. But the dividends accrued in the course of the year will be pooled to serve as economic guarantees when major export projects are supposed to be implemented,” explained Anatoly Cherny. He reminded that today companies, which intend to take part in tenders, are expected to provide either bank guarantees or pledges as large as 5-10% of the project’s value. “Not every company can get bank guarantees. Besides, several of them have large accounts receivable. For instance, enterprises run by the Architecture and Construction Ministry are owed about Br3.5 trillion. The holding company will have its own budget. The holding company will be able to use the money as guarantees, will be able to take part in tenders and win,” stated the Architecture and Construction Minister.

Anatoly Cherny remarked that the Architecture and Construction Ministry had stepped up efforts to penetrate new markets. “We have been negotiating vigorously. This year we intend to increase the export of construction services by 0.3% from 2015 despite fluctuations of the currency exchange rate,” he said. In 2015 only 85% of the targeted export volume was secured. “If the currency exchange rate had not fluctuated that much, the figure would have been at 104%,” concluded the Architecture and Construction Minister.

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