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Business news

11 Jan 2017

New resident company registered in China-Belarus industrial park Great Stone

MINSK, 11 January (BelTA) – A new resident company has been registered in the China-Belarus industrial park Great Stone, BelTA learned from Kirill Koroteyev, First Deputy Director General of SZAO Industrial Park Development Company.

The new resident company is SAS Industrial. It has been established by the Zhejiang manufacturing and trade company Yongkang Hongfu. The Chinese company intends to implement an investment project to start manufacturing heat radiators made of cast aluminum, steel, and aluminum in the China-Belarus industrial park Great Stone.

The investment project will be implemented in two stages. Construction is supposed to begin in 2017, with intended investments at $6 million. The second stage will be carried out in 2018-2020 and will spend $10 million in investments. Once the enterprise has reached the designed output capacity, it will be able to make 8 million heat radiators per annum. Initially the company will create 70-80 jobs. Later on the company will have a total of 180 jobs. The entire output will be exported.

Kirill Koroteyev also said that they had terminated the contract with the company Juxin Malt, which intended to start making malt in the industrial park. “Experts have concluded that the technology the investor intended to use would not be able to guarantee the safety of flights in the Minsk National Airport. This is why the contract has been terminated. The company has been offered an alternative land plot in Minsk Oblast,” explained the First Deputy Director General of SZAO Industrial Park Development Company.

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