Business news

Smorgon forestry becomes FEZ Grodnoinvest resident

MINSK, 30 December (BelTA) – The Smorgon experimental forestry has been registered as resident of FEZ Grodnoinvest to implement an investment project on pellet production, BelTA learned from the administration of the free economic zone.

The main idea of the investment project is to use low-quality wood and sawmill waste to organize pellet production at the site of FEZ Grodnoinvest in Smorgon. The entire volume of products made under the project will be exported.

“The implementation of the project will expand the range of products, increase the scale of production and increase exports, improve the profitability and efficiency of production, create additional jobs and increase budget contributions,” the administration of the free economic zone stressed.

The project will create 18 new jobs. Total investment will exceed €2.5 million. The company plans to start production by the end of next year.

Five new residents of FEZ Grodnoinvest and a special tourist and recreational park Augustow Canal were registered in 2020.

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