Belarus’ President Alexander Lukashenko has commissioned the government to increase cement output three times by 2011 to 9.5-10Mt, the press service of the government said following a special meeting that addressed the cement industry.
The government had developed a program to triple cement production by 2011; the program was presented by Prime Minister Sergei Sidorsky and broadly approved by the president.
According to Sidorsky, more than 10 foreign investors were interested in upgrading three Belarus’ cement producers – Krichevtsementnoshifer, Belarusian Cement Plant and Krasnoselskstroymaterialy. Not all the potential investors offered “advantageous investment conditions”, though, the press service said.
It is planned that China’s CITY corporation will supply equipment to Belarusian producers. According to the press service, the equipment meets quality and energy efficiency standards. Belarus will take out U.S. $600m in foreign loans to finance the project. The payback time of the project is approximately four years. Belarus plans to receive loans as early as February 2008, the press service said.