Business news

MINSK, 13 January (BelTA) – An innovative enterprise to manufacture tractors of Minsk Tractor Works (MTZ trademark) will be set up in the Egyptian city of Alexandria, Ambassador Extraordinary and Plenipotentiary of Belarus to Egypt Sergei Rachkov told BelTA.

“We see good prospects for the development of the bilateral trade and economic relations, not only for increasing and diversifying our trade, but also for strengthening the industrial cooperation and establishing joint ventures. An innovative enterprise with designed annual output capacity of 200 to 2,000 tractors will be put into operation during the visit of Belarus President Alexander Lukashenko to Egypt. The produced vehicles will sell in Egypt and its neighboring countries,” Sergei Rachkov said.

The diplomat added that Egypt already has one plant assembling MAZ trucks on the grounds of the Egyptian company Sakr Factory. The plant made as many as 389 municipal vehicles from 2008 to 2015. Besides, there are two ventures based on the companies TECO and MM Group that assemble MTZ tractors in Egypt. Their total output was 856 Belarus tractors over the period from 2010 to 2016.