Belarus Attracts Investments from Europe
In June 2012, The European Bank for Reconstruction and Development (EBRD) can conside providing a loan totaling up to EUR 40 million to Kronospan FLLC, Belarus to finance construction of an MDF and laminate flooring plant at Smorgon in the Grodno region.
A Swiss company Stadler intends to invest EUR 50 million into construction of a fast –speed trains plant in the free economic zone \"Minsk\".
The loan of the European Bank for Reconstruction and Development will be complemented by Kronospan’s own funds. The project is estimated at EUR102 million.
The Swiss company Stadler Rail Group and JSC \"Holding management company\" Belkommunmash “will initially invest about EUR50 million in construction of a plant for the production of Swiss trains on the territory of Free Economic Zone “Minsk”.
In 2012-2013, the company intends to produce 18 trains and 30 trams, in 2014 - up to 30 trains, 30 trams and 500 trolleybuses. The holding company will include the following Belarusian companies: OJSC “BELKOMMUNMASH”, Minsk Car-Repair Plant and Baranovichi Machine-Tool Plant.
The company Stadler Rail was founded in 1942. It is headquartered in Switzerland with the divisions in Germany, the Czech Republic, Poland, Hungary, Algeria, Italy, the United States. A consolidated turnover of Stadler Rail group in 2011 amounted to EUR1.5 billion. The company employs more than four thousand people.