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China’s CITIC Group starts building hotel, business center in Minsk
MINSK, 20 July (BelTA) – The construction of a hotel coupled with a business center featuring tennis courts with assistance of the Chinese corporation CITIC Group began in Minsk on 20 July. A time capsule with a message to the future generations was buried at the construction site, BelTA has learned.
Deputy Prime Minister of Belarus Anatoly Kalinin, Deputy Prime Minister Vladimir Semashko, Minsk Mayor Andrei Shorets, CITIC Group President Wang Jiong, Ambassador of Belarus to China Kirill Rudy, and Ambassador of China to Belarus Cui Qiming were present during the ceremony.
The compound will be located within confines of Pobeditelei Avenue and Vesninka Alley not far from Minsk Arena. The land plot is over 140,000m2. It will be sufficient for erecting a 25-storey hotel, three office buildings, a bank headquarters, a conference hall, a restaurant, and a multilevel sport facility with tennis courts, a swimming pool, a gym, and a spa.
The Novopolotsk-based company OOO Interservis is the customer of the project while CITIC Construction Company is the general contractor.
Chinese direct investments to the tune of over $120 million have been utilized for the construction project.
Alexander Shakutin, Chairman of the Board of Directors of the Belarusian mechanical engineering industrial group Amkodor, Chairman of the OOO Interservis General Meeting of Shareholders, told reporters that construction operations will begin right after the time capsule is buried at the construction site. It will take a total of two years to build the facility. Chinese construction workers and engineers will be involved in the project while Belarusian companies will supply the bulk of the workforce. “The hotel and business center complex will be one of the most beautiful places in Minsk. It will embellish our capital city. It will be a place not only for meetings of business people but for family recreation, too,” believes Alexander Shakutin.
The complex has no approved title yet. Shanter Hill is the working title for now. “We’ve launched a new program to build unique healthcare and recreation facilities for Belarusians and foreigners. Shanter Park will be one of them. It will be a place for rest recreation not far from Minsk,” noted Alexander Shakutin.
In turn, CITIC Group President Wang Jiong said that the high level of political relations between Belarus and China and the favorable investment climate open up new opportunities for cooperation between the countries. In Belarus CITIC Group has a representative office and a design and engineering venture together with Belpromproject. The Chinese company has also implemented a project for the turn-key construction of three new cement mills and has modernized three existing cement mills. CITIC Group takes part in building the BelGee automobile factory and in modernizing Orsha Linen Mill.
CITIC Group includes over 40 daughter enterprises and banking structures, which are registered and operate both in China and abroad (the USA, Canada, Australia, and other countries). The Chinese corporation focuses primarily on finance, real estate, civil engineering, extraction of natural resources, information technologies, production sector, trade, and services.
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