Business news

12 Oct 2020

Russian investor pours over $1.5m in woodworking project in Vitebsk Oblast

An archive photo

VITEBSK, 12 October (BelTA) – A Russian investor has poured over $1.5 million into a woodworking project in Chashniki District, Vitebsk Oblast, BelTA learned from Sergei Mishulkov, Head of the Economy Department of the Chashniki District Executive Committee.

The company OOO WoodenKit intends to start making furniture boards. The enterprise occupies a land plot the investor bought after a local retailer went bankrupt. Construction began last year. Lines for sorting, barking, and sawing round wood and vacuum-drying the output will be installed at the manufacturing site. Equipment is being imported. The project is being continuously financed, with $720,000 allocated in January-September 2020. The construction of the sawmill will be completed in 2022. The enterprise will employ about 200 people, mostly Chashniki District residents.

Another major industrial project is supposed to be implemented in Novolukoml. A new canning plant has been registered. It will specialize in canning fruits, vegetables, and fish products. Construction will begin in 2021. The enterprise is expected to reach the designed output capacity in 2024. Procedures are in progress to allocate and hand over a land plot of nearly 29.6ha to the new enterprise. The land plot was previously owned by the Vitebsk Oblast energy company Vitebskenergo. There is a compressor building and a train depot on it. The canning plant will employ over 50 people. Foreign direct investments in the project will exceed €2 million.

“The advantageous geography and logistics of the region allow attracting foreign citizens for implementing various projects, including the establishment of enterprises of all kinds. Seven new resident companies have already been established in Chashniki District this year,” Sergei Mishulkov noted. The new enterprises will focus on trade, agriculture, parking lot services, and catering business.

Speaking about the work of local businesses and state-run enterprises, Sergei Mishulkov noted that industrial output grew higher in January-September 2020 to Br63.5 million in effective selling prices or 105% as against the same period of last year. In physical terms the growth rate totaled 101%.

Despite the complicated epidemic situation Chashniki District enterprises continue working steadily. Many are increasing their output.



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