Belarus to use Chinese loan to build pulp mill
27 June 2011
MINSK (BelTA) – The Council of Ministers approved a draft loan agreement between the Export-Import Bank of China, ICBC Bank and the Belarusian Government represented by the Finance Ministry to implement an investment project, Construction of a Bleached Sulfate Plant at the Svetlogorsk Cardboard Mill as basis for holding further negotiations. The decision was laid down at Resolution No 809 of 21 June 2011 of the Council of Ministers, BelTA has learnt.
The Council of Ministers also improved a loan agreement between the Export-Import Bank of China and the Government of Belarus for reconstructing the Zhlobin-Gomel part of M-5/E271 Minsk-Gomel highway.
Finance Minister Andrei Kharkovets has been authorized to hold loan negotiations and sign the documents upon reaching agreement on them.
Bellesbumprom announced its plans to build a sulphate bleached and unbleached pulp mill in Svetlogorsk in early June. So far there is no facility in the country that would produce high-quality bleached and unbleached pulp. Thus the country cannot process waste to produce paper and cardboard products that meet international standards. As a result, Belarus has to import pulp and related products.
The pulp mill is scheduled to come on stream by 2015. It will manufacture 400,000 tonnes of pulp per year, which will satisfy the needs of Belarusian paper and wallpaper enterprises in paper and paper raw materials. There are plans to export about 50% of sulphate pulp.