Belarus Government set to get US$529.3m loan from Chinese bank for expansion

Belarus Government set to get US$529.3m loan from Chinese bank for expansion
Published: 16 October 2008

The Belarusian government wants to obtain a US$529.3m loan on easy terms from a Chinese bank for the expansion of the country’s three cement plants. Under a directive issued by the Council of Ministers on October 10, Andrey Kharkavets, minister of architecture and construction, will hold talks with the Chinese Export and Import Bank about the possibility of the two loans, one totaling US$29.3m and the other $500m. The Belarusian government wants to increase the domestic output of cement to 10Mta by 2011. Three new production lines with an annual capacity of 1.8Mt of cement each are to be put into operation at the country’s three cement plants. They are estimated to cost a total of $1.13bn.