Business news

MINSK, 5 April (BelTA) – Two new companies have become part of the China-Belarus industrial park Great Stone, BelTA learned from First Deputy Director General of the Industrial Park Development Company Kirill Koroteyev.

The new residents are the Belarusian companies Standart NUVO and Duomedica.

Standart NUVO is a big investment project in the sphere of new materials that involves the construction of a high-tech enterprise for engineering eco-friendly, multi-barrier, biodegradable, aseptic packing materials for the dairy and food industry. The enterprise is unparalleled in the Eurasian Economic Union. The project is definitely oriented towards import substitution and export.

The target markets for the products will be EAEU member states as well as EU member states because the demand for biodegradable packing materials is much higher in Europe than in the EAEU.

Some $12.5 million will be invested in the project. The enterprise will employ more than 200 people after reaching the designed output capacity.

“Duomedica is also a very important project for the industrial park and for Belarus as a whole, including due to its social focus, orientation towards import substitution and the development of new technologies that are not present in Belarus,” stated the source.

The project provides for the production of devices that will support the heart function and the blood flow for people with weak heart muscles. The medical community knows this device as Ventricular Assist Device (or VAD for short) and the company will produce the latest-generation VADs. The device accepts blood from the lower heart chamber and helps deliver to other vital organs.

Manufacturing is going to be launched in 2018.