Pro-Lukashenka oligarch receives new preferences

Interservice, one of Belarus's biggest private oil traders, is to construct several car parts plants on the basis of Navapolatsk plant of protein and vitamin concentrates (PPVC).

This decision is provided for by presidential decree No. 423 of September 10, 2013. The text of the document was published on the National legal portal.

The documents amends earlier decree No. 226 of May 7, 2012, which allowed Interservice to open an innovative facility to process oil with the annual capacity of 1.5 million tonnes at the premises of the plant of protein and vitamin concentrates.

Under decree No. 423, the investor, Interservice company, opens three plants at the premises of the PPVC. A plant of traction and starter batteries with the capacity of 500,000 items per year is expected by be set up by the end of 2017. A plant of hydraulic cylinders with the output of 30,000 items per year is to be constructed by the end of 2018. A plant to manufacture special machines with the annual output of 1,200 items is planned to be opened by the end of 2019.

The decree allows opening an “additional plant to make hoisting devices” if “the projected investments make up less than $270mn following the development of project documentation, reconstruction, construction, equipment of the plants”.

The document also gives tax preferences and the right to pay the current debts, loans and other payments to the budget by installments.