Business news

Belarusian Economy Minister Vladimir Zinovsky went to China as a member of the official delegation of the Belarus president. While in China, Vladimir Zinovsky met with top executives of China Railway Construction Corporation (CRCC). As promising avenues of cooperation the sides mentioned the participation of CRCC companies in further development of infrastructure and facilities in the China-Belarus industrial park Great Stone and participation in the construction of the third metro line in Minsk. The sides also agreed to consider the possibility of building a high-speed railway from the Belarusian-European border to Minsk and to the Belarusian-Russian border. Representatives of Chinese companies are expected to visit Belarus in June for the sake of discussing prospects and terms of the projects in detail. Negotiations will be held with interested government agencies and organizations.

During the meeting Vladimir Zinovsky noted that the Belarusian side welcomes the participation of CRCC companies in the construction of infrastructure in the China-Belarus industrial park Great Stone and other social facilities, including thanks to Chinese technical aid. He underscored that Belarus is interested in professional companies, which are ready to take out financial resources for implementing projects in Belarus on mutually beneficial terms. Taking into account the ongoing transition of Belarus-China credit and investment cooperation to direct investments, the Belarusian economy minister encouraged Chinese companies to take a look at the new projects and participate in them not only as contractors. Chinese companies are invited to contribute to the capital and to make investments, thus bolstering the long-term foundation of Belarus-China cooperation and mutually beneficial interest.

The Belarusian delegation saw a presentation of the main accomplishments of the Chinese holding company during the talks with top executives of China Railway Construction Corporation and its daughter enterprises (China Railway 25th Bureau Group and China Civil Engineering Construction Corporation).

The holding company CRCC is a major civil engineering company run by the State-Owned Assets Supervision and Administration Commission of the State Council of China. The company specializes in building high-speed railways, metro lines, motorways, bridges, tunnels, and real estate properties. The company operates in over 100 countries across the globe. CRCC is ranked 62^nd in the Fortune Global 500 and third in the Top 250 Global Constructors. The company is China’s leading contractor in railway construction. The company has built over 100,000km of railways in China, including half of the country’s high-speed railways.

CRCC boasts the technology and the experience of building high-speed railways with train travel speeds of up to 350kmph. CRCC’s daughter enterprises have registered their representative offices in Belarus. China Railway 25th Bureau Group is the general contractor for building the trade and logistics complex of China Merchants Group in the China-Belarus industrial park Great Stone, for building public welfare homes and halls of residence for university students. A seminar for Belarusian civil engineering companies was arranged upon instructions of the government in 2016. During the seminar the Belarusian projects of the Chinese company were cited as an example of a professional attitude to civil engineering business.