Business news

MINSK, 20 August (BelTA) – Investment in the launch of furniture manufacturing in Ivatsevichi will make up €20 million, BelTA learned from the press service of Bellesbumprom Concern.

“The investment project to launch furniture production by one famous German company in Ivatsevichi has received an official status. The corresponding investment agreement was signed and registered,” Bellesbumprom Concern informed. The document was signed between Belarus (in the face of Bellesbumprom Concern) and Polipol Productions Verwaltungs GmbH and was introduced by the Economy Ministry into the State Register of Investment Agreements with the Republic of Belarus on 17 August.

At first the furniture plant will function on the lease areas of Ivatsevichdrev. The company will invest €1.5 million to develop and operate it. The first furniture items, soft furniture, will be produced in September 2018. The factory will employ Belarusian specialists who underwent special training at Polipol plants in Poland. The plans are to produce about 1,000 sofas before March 2019.

The investor also plans to build its factory in Ivatsevichi. The total investment is estimated at €20 million. It is expected that the production will reach 8,500 sofas by 2020 and about 27,000 by 2027. The factory will occupy the area of ​​50,000 square meters and will employ about 1,200 specialists. Furniture will be exported to the European market.

The goal of the project is to develop the manufacturing industry as a priority activity for investment, combine the opportunities for the production of furniture and other products in Belarus, and expand sales markets.