Belarus’ govt Oks cement loan deal with China

Belarus’ govt Oks cement loan deal with China
Published: 02 March 2009

The Belarusian government has approved the agreement with China’s Exim Bank to take out a US$142.46m loan for Belarus’ cement producer Krasnoselskstroymaterialy to build a clinker line.

Belarus’ Ambassador to China Anatoly Tozik will negotiate the loan.

President Alexander Lukashenko in 2008 provided tax incentives to facilitate the construction of three all dry process plants with capacities totaling 5.4Mta.

The document exempts state-owned Belarusian Cement Plant, Krichevtsementnoshifer, OAO Krasnoselskstroymaterialy and OAO Minsk Construction Materials Plant from customs payments and the value-added tax on imported equipment required by the construction.

Belarus requires 5.2Mta of cement. Domestic cement output capacity is close to 3.8Mta.