Minsk-based OAO Amkodor and Belarus’ Saleo Group plan to build three new plants in 2017 and implement other projects with a total investment portfolio of $500 million, Igor Kayuda, Amkodor’s Director for Innovations and Investments, reported.
Chinese credits will account for 80% of project investments.
As previously reported, Amkodor and Saleo Group signed three contracts worth a total of $400 million with Chinese companies.
The deal includes a contract for the construction of the Amkodor-Mash plant worth about $230 million and contracts to upgrade two plants of Saleo Group in Kobrin and Gomel totaling $170 million.
Another $100 million will be invested in other projects, however Amkodor and Saleo Group have not provided further details so far.
Established in 1927, Amkodor is one of the CIS’ and Europe’s largest manufacturers of road construction vehicles, utility machinery, snow-removing, timber industry, agricultural machines and other special vehicles. The product range includes over 80 models and modifications. Amkodor vehicles are used in more than 30 countries across the globe. The company produces around 5,000 special-purpose machinery units per year. (Prime-TASS/Business World Magazine)