Great Stone Park to host manufacturers of eco-friendly packing materials, medications
28 August 2017
MINSK – The China-Belarus Industrial Park Great Stone (Smolevichi District, Minsk Region) has officially registered two new resident companies, which plan to establish production of eco-friendly packing materials and medical products.
Belarus’ New Craft Technologies Ltd plans to invest more that $7 million in an integrated plant to manufacture eco-friendly packing materials from a cellulose polymer using the Craft technology.
Belarus’ Assomedika Ltd plans to scale up production on the premises of the Great Stone Park in order to increase output and launch new products. In the first two years the company plans to invest the project more than $2 million. They plan to lease the premises of the first industrial building erected in the Great Stone Park.
The Great Stone Industrial Park is based in Smolevichi Rayon (Minsk Region), where a special economic area will be established on an area of 8,048 ha subject to special legal regulations for a period of 50 years. The industrial park will host business projects in electronics, biomedicine, fine chemistry and mechanical engineering, which resident companies enjoying lucrative tax preferences.
The total value of the project is estimated at $30 billion. The parties have agreed that Belarus will hold a 40% stake in the authorized capital of the Belarusian-Chinese company that will develop the project.
SZAO Industrial Park Development Company was established on Aug 27, 2012 by Sinomach (32%), Minsk Region Administration (30.86%), China Merchants Group (20%), CAMCE (13.71%), Harbin Investment Group (2.29%), Minsk City Administration (0.57%), Belarus’ Horizont Group (0.57%). The Great Stone Park is currently developing its infrastructure.
At the initial stage, 10,000 jobs will be created. After the part starts operating at full capacity, the number of jobs will increase to 132,000. So far 18 companies have been registered as residents at the Great Stone Park.