Babruysk Ended Up With Garbage And Without Millions Of Euros

As it became known during the detention of Babruysk mayor the "garbage" project was closed by the Lithuanian group Oil Pack Invest.

In November 2014, basing on the results of the VII International Investment Forum "Mahilyou region – a path to success", the company Oil Pack Invest, backed with a pool of Lithuanian investors, has agreed with local authorities on the construction of a plant for sorting and recycling of municipal waste with the simultaneous production of electricity and heat. Total investment in the project, which acquired the status of public-private partnership, was 195 million Euros.

According to Ezhednevnik, Austrian bank holding Raiffeisen planned to partially finance the largest in the history of the city investment project which involves private capital - the construction of the waste processing plant. Project study, choice of production capacity and selection of sites have been carried out.

However it hasn't come to the project realization.

This has become typical recently – some foreign investors have given up on the projects in Belarus due to the prolonged recession in the economy of Belarus and uncertain prospects. Lithuanian company Vicunai (construction of a fish processing plant near Minsk), Austrian holding Strabag (equipment of sewage treatment plants of the capital with biogas units) and Estonian casino operator Olympic Entertaiment Group are among them.