/ / News

Belarus, China set up Industrial Park Development Company

MINSK, 31 August (BelTA) – The authorized fund of the Chinese-Belarusian Industrial Park Development Company (IPDC) makes up $10 million, the press service of the Belarusian Government told BelTA when commenting on the establishment of the joint company for the development of the Chinese-Belarusian Industrial Park.

The company’s authorized capital amounts to $10 million, of which 60% is owned by Chinese Corporation CAMC, 30% by the Minsk Oblast Executive Committee and 10% by the Horizont holding company.

The Chinese-Belarusian closed joint-stock company “Industrial Park Development Company” was established on 27 August 2012 jointly with the management company of the Horizont holding company and the Minsk Oblast Executive Committee. The company will be responsible for the development of the park, design and construction of the facilities envisaged in the general layout, including the infrastructure, and attracting investors. Strategic issues will be considered by a general meeting of shareholders, most important issues of development will be overseen by the Board of Directors.

The joint company is located in Smolevichi District, Minsk Oblast.