An investment agreement has been signed with Austrian Kronospan Holding Limited at the Belarusian Investment Forum in Frankfurt-am-Main. Now, a site for the construction of a wood-processing enterprise, occupying around 30 hectares, has been allocated in the Smorgon district. The new factory will manufacture laminated coatings and other timber processing goods from Belarusian hardwood and coniferous timber, for export. This will create around 300 jobs. The project is costing $150m and is to be completed by 2016.