Enterprises work on building ‘muscle’ for future
Last year, the Ministry of Industry of Belarus financed a modernisation programme worth almost Br8 trillion
By Andrey Fiodorov
“Modernisation involves more than simple re-equipment; it rather means creating new manufactures,” underlines Valery Fishman, who heads the Chief Department of Innovation and Investment Activity at the Ministry of Industry. He notes that the modernisation programme covers a number of projects, including one at the Belarusian Steel Works, making rolled section steel, thanks to a wire-rod mill. “Last year, about Br2 trillion was invested in this absolutely new manufacturing for Belarus,” says Mr. Fishman. The project will allow the enterprise to expand its range and increase exports.
Meanwhile, more than Br300bn was invested into modernising and reconstructing Minsk Automobile Works in 2013, raising capacity and achieving a higher level of production.
Last year, Ministry of Industry enterprises increased direct foreign investments by about 75 percent (compared to 2012). Mr. Fishman comments, “Companies from China and Russia are leading partners regarding foreign investment, with most funds directed towards the Belarusian Steel Works, the Belarusian Automobile Works and the Minsk Tractor Works, among others.” Investment is now sought for the manufacture of seamless pipes and the building of an air separation plant at the Belarusian Steel Works, as well as for the manufacture of high pressure hosing at Orsha Legmash JSC and the production of brake blocks at the Belarusian Automobile Works.