Business news

MINSK, 15 May (BelTA) - China Petroleum Technology & Development Corporation (CPTDC) is interested in participating in the project to build a polyester products unit at OAO Mogilevkhimvolokno, the press service of the Belneftekhim Concern told BelTA when commenting on the visit by the state Chinese delegations to Belarus and to the petrochemical industry enterprises in particular.

"According to the protocol of the negotiations, upon receipt of the relevant documentation from OAO Mogilevkhimvolokno the Chinese side will offer possible financing schemes for the project,” the experts said.

The press service also informed that the China CAMC Engineering Co., Ltd. expressed interest in the projects to construct a nitrogen unit at OAO Grodno Azot and an ethylene propylene unit at Polymir plant of the Naftan oil refinery.

In addition, the negotiations were held between Belneftekhim and China’s Jiangsu Baoli Asphalt. "The parties reached a mutual understanding on the possibility of establishing a joint Belarusian-Chinese construction bitumen production facility at Naftan. The parties signed a memorandum of intent to consider the possibility of implementing the joint project,” the experts said.

In general, a delegation of the enterprises affiliated with the Belarusian petrochemical industry led by Belneftekhim head Igor Lyashenko took an active part in the Belarusian-Chinese interregional business forum. Experts expressed their confidence that the negotiations with the heads of major Chinese corporations will give a new impetus to the development of mutually beneficial trade and economic ties and investment cooperation between the Belarusian and Chinese partners.

China is an important economic partner of Belneftekhim Concern. Export of chemical products to China accounts for the bulk of the foreign trade of Belneftekhim. The interests of the Belarusian industry in the Chinese market are represented by Belneftekhim Shanghai Trading company. Belneftekhim’s exports to China are polyamides, ethylene polymer, items made of fiberglass, silica and basalt fibers and yarns, polyethylene, carbon materials, tires.