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Belarusian Steel Works ramping up output, raising wages despite sanctions

Screenshot of the video by the STV TV channel

MINSK, 18 December (BelTA) – Director General of Belarusian Steel Works (BMZ) Dmitry Korchik told the STV TV channel how the company is operating under the sanctions, BelTA has learned.

“Before all these restrictions were imposed, more than 50% of our exports went to the European market, the American market. We faced a gargantuan task to redirect our commodity flows to new markets; we had to diversify not only our sales markets, but also sources of raw materials and component parts. Now our main partners are the Russian Federation and other CIS countries, the Middle East and Southeast Asia. We export to Iran, Egypt. We cooperate with Kenya, but this year we have not shipped our products there. We are working to establish our presence in new markets,” said Dmitry Korchik.

The company’s performance in the outgoing year will be fairly good. “Our steel output will reach 2.310 million tonnes, up 15% over the previous year. The index of the physical volume of production will go up by 12%. We will increase the export of rolled ferrous metals,” the director general informed. Work on import substitution is underway. Under the BMZ innovative development program, the company is to make 128 new grades of steel for the Belarusian market and the market of the Russian Federation.

According to the director general, the average salary at the company has increased by 20% this year. It is projected to be Br2,500 by the end of the year. “The 13th salary has been paid for the last few years. It will be paid this year, too. Just in time for Christmas and New Year holidays, so that people will be able to have a good time. We operate at a profit, we have money to incentivize our employees with bonuses. And we are happy to do this,” Dmitry Korchik emphasized.

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