The construction of three new cement plants in Belarus will cost US$1134m, Construction Minister Alyaksandr Selyaznyow told reporters in Minsk on August 6. According to the minister, “we have no investors for the projects.”
“We have companies’ own funds, money in innovation funds, loans from our banks. This has made it possible to start the preparatory period,” he said. The government also will allocate part of a $550, Chinese credit line for the projects, the minister said, expressing hope that the credit line would be opened in the next few months. The credit line will carry an annual interest rate of 6.5 percent and its repayment will start after a three years’ grace and will have to be completed within seven years. The construction of the plants will make it possible to double cement output compared with 2006, Mr. Selyaznyow said.