Business news

TOLOCHIN DISTRICT, 17 August (BelTA) – Plans have been made to advance the pig farming industry in Vitebsk Oblast to a proper level within five years. Vitebsk Oblast Governor Nikolai Sherstnev made the statement as the new agricultural enterprise BelDan was opened on 17 August, BelTA has learned.

“It is necessary to put Vitebsk Oblast’s pig farming industry on an absolutely modern track within less than five years. And it has to be done fast and cost-effectively,” stressed the head of the Vitebsk Oblast administration.

In his opinion, it will be impossible to build the necessary number of new pig farms due to prohibitive costs. “We will follow another path. We have to build several sow farms, reform the current industrial base and switch it to fattening. We will resolve a number of veterinary problems like that and will be able to double pork output,” noted Nikolai Sherstnev.

Documents for some projects are virtually ready. Work is now in progress on financial aspects of the projects. The first step – the opening of the agricultural enterprise BelDan – has already been made.

Chairman of the Board of the Development Bank of the Republic of Belarus (DBRB) Sergei Rumas congratulated the enterprise’s personnel on the enterprise operating at full capacity. The official stressed that the Development Bank of the Republic of Belarus is focused on financing major investment projects, which can change the national economy. The BelDan enterprise to make Danish bacon in Tolochin District, Vitebsk Oblast is a bright example.

“The enterprise has been working at full capacity for only half a year but it already accounts for 8% of Vitebsk Oblast’s gross pig production. And it is not the limit. As the financing bank we are satisfied with progress in the project’s implementation. We see that all the initial indicators of the business plan have been hit. Payments on the loan are made on time. We have no doubt that the project will be a success for the investor,” said Sergei Rumas.

The DBRB head noted that the bank actively builds agribusiness and industrial enterprises across the entire country. The DBRB’s financial support has been used to open three new modern dairy farms in Vitebsk Oblast. The bank has also invested in the retooling of Glubokoye Dairy-Canning Factory and a number of production sector projects. The DBRB’s largest loan has been granted for the reconstruction of the oil refinery OAO Naftan. “We are working on a lot of projects these days,” noted the DBRB chairman of the board.