Business news

MINSK, 12 October (BelTA) – The Belarusian mechanical engineering company Amkodor has plans to launch three large contracts with the Chinese corporations CITIC Group and Sinomach by the end of 2016, Igor Kayuda, Director for Innovations and Investment Projects at Amkodor, said on 12 October at a press conference that discussed preliminary results of the visit of the Belarusian delegation to China and Pakistan, BelTA has learned.

“We hope to start working on the implementation of the contracts in late December,” Igor Kayuda said.

He noted that one of the contracts envisages the construction of the Amkodor-Mash plant in Kolodishchi, Minsk District to manufacture special-purpose equipment, such as front-end loaders and tractors with a capacity of 300 to 500 hp. The contract is worth $230 million. Amkodor will also work to upgrade two plants of the partner company Saleo in Kobrin and Gomel. A total of $170 million has been allocated for the renovation works.

Igor Kayuda noted that Amkodor is also set to carry out a project to produce excavators. “We have been holding talks with Sinomach, and we are almost ready to set up a joint venture to manufacture excavators on the basis of Amkodor-KS, the former Kokhanovo Excavator Plant. We will get the first assembly kits in the near future. The agreement has been signed, and all the terms agreed,” Igor Kayuda added.