The construction will begin next year, cost $1.1 billion.
The construction of a chemical plant on the premises of AAT Hrodna Azot will begin next year, First Prime Minister Uladzimir Siamashka told reporters in Minsk on Wednesday.
The plant, which will use “modern energy efficiency and resource-saving technologies,” is estimated to cost $1.1 billion, said Mr. Siamashka.
“We are looking for a license grantor and have almost found one that will supply these technologies. And we are looking for someone who can give us a tied long-term loan on easy terms,” he said, noting that the government was ready to carry out the project on its own, without an investor.
A number of foreign investors have displayed an interest in the Hrodna Azot chemical plant; talks with them are under way, but no specific agreements have so far been struck, said the vice premier.
He said that an ambitious modernization project at the company went ahead despite the “absence of investors.” The first stage, costing $467 million, is nearing completion, he said, adding that the company’s annual output would increase by 20 percent as a result of it.
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