CITIC Construction ready to open bank in Belarus

MINSK, 5 June (BelTA) – The meeting of Vice Premiers of the Republic of Belarus Anatoly Kalinin and Anatoly Tozik with the Chinese CITIC Construction executives took place in the Council of Ministers on 4 June, BelTA learnt from the press service of the government.

The parties discussed the implementation of three large investment projects to construct cement technological lines. One of the lines was installed at the Krasnoselskstroimaterialy Company in April 2012. The projects for Belarusian Cement Plant and Krichevtsementnoshifer have been almost completed. Technological lines will be installed there this year.

“The sides discussed the current issues regarding the implementation of the projects. The Chinese officials assured that all Belarus’ requirements for prompt completion of the works at the companies will be fulfilled in time,” the press service said.

The parties considered promising areas of further cooperation. Among them is the production of large-size concrete elements, asphalt coats and other construction materials, ceramics, participation of the Chinese company in hardcore manufacturing, construction of housing and transport infrastructure. The sides discussed the possibility for the Chinese company to make part of one of the Belarusian construction holding companies and open a bank in the country.

They also discussed an opportunity of setting up a Belarusian-Chinese Investment Fund to finance these and other projects.

A memorandum of cooperation was signed with CITIC Construction after the meeting.