Business news

MINSK, 28 March (BelTA) – As much as $700 million has already been transferred to the Belarusian company OAO Belgorhimprom, which acts as a contractor for building the Garlyk mining and processing factory in Turkmenistan, BelTA learned from Chairman of the Council of the Republic of the National Assembly of Belarus Mikhail Myasnikovich after he met with Belarus President Alexander Lukashenko on 28 March.

Mikhail Myasnikovich said that the head of state had given instructions to carry out all the necessary financial transactions so that Belarusian companies could be paid for the volume of work they had done already. “Transactions are in progress now. The system of transfers, advance payments, and guarantees is rather complicated,” said Mikhail Myasnikovich. “But as the general contractor Belgorhimprom has already received about $700 million. All the necessary agreements have been signed. Post-launch services will be provided till 2020 in line with the contract. These services will be paid for, too.”

According to the Chairman of the Council of the Republic of the National Assembly of Belarus, the construction of the Garlyk mining and processing factory is profitable for the Belarusian side. “It is an image-enhancing project. It indicates what we are truly capable of designing and building, of performing all the necessary engineering operations because hundreds of various organizations have been involved in this project and all of them had to be tied together. It was also rather profitable for our construction and installation companies to work there,” remarked Mikhail Myasnikovich.

Apart from that, the Belarusian side has sold a lot of equipment made by Belarusian companies as part of the project. The equipment included bolter miners, electric and mechanical equipment, MAZ and Amkodor vehicles and machines. “All the deliveries were made via tenders. Belarus was not granted some kind of protection. Our companies and construction and installation enterprises demonstrated their competitive ability as they built this factory,” stressed Mikhail Myasnikovich.

The head of the upper chamber of the Belarusian parliament did not rule out the possibility that the Garlyk mining and processing factory may become a partner of OAO Belaruskali. “The possibility has been discussed. I think it will also be raised during Alexander Lukashenko’s visit to Turkmenistan. There is no doubt that it is necessary to come to terms in order to sell products at a profit taking into account the fact that supply exceeds demand on the potash market these days. But there are all kinds of schemes and there are national commitments,” stated Mikhail Myasnikovich.