Business news

MINSK, 31 July (BelTA) – The fifteenth resident has been registered in the Belarus-China industrial park Great Stone, BelTA learned from First Deputy Director General of SZAO Industrial Park Development Company Kirill Koroteyev.

“Today we registered another resident company, the fifteenth in succession. It is Ruchtech, the company with 100% foreign capital participation. We expect that the construction of a plant producing fiber lasers will start this year,” Kirill Koroteyev said.

In his words, a plant and a design bureau will be set up in the park to develop and manufacture automated laser systems for macro- and micro-processing of metal items, alloys, and composite materials, and also to produce optomechanical components for different kinds of equipment. “This is a high-technology project. We have worked on it for nearly a year showing that Belarus is the place that offers the necessary competitive advantages to carry out the project,” Kirill Koroteyev remarked.

Fiber lasers are used in many fields, from machine tool building to surgery. “A unique technology allows for manufacturing lasers and consumer equipment for specific projects. This is a compact product: the laser is embedded in small-size equipment, which sometimes is as tiny as a box of matches,” Kirill Koroteyev added.

The project is estimated to attract $30 million in investment.

According to Kirill Koroteyev, as of today, there are eleven resident companies with Chinese capital in the park, one with Austrian, one with American, and two with Belarusian particpation. “Tomorrow Chairman of the State-owned Assets Supervision and Administration Commission at China’s State Council Xiao Yaqing and Chinese business representatives will visit the park. The number of the park’s resident companies is going to grow during the visit,” he added.