Shakutsin And Siamashka To Build New Tractor Plant For $ 350 Million

They want to borrow the money from China.

Deputy Prime Minister Uladzimir Siamashka informed about the new project.

"The head of the holding company "Amkodor" Aliaksandr Shakutsin proposed that, among other investment projects, he would establish the production of automotive and municipal machinery. There were different opinions on this issue, but I personally support this project," – BelTA quotes him.

In his opinion, this will contribute to the development of a competitive environment, including for MTZ (Minsk Tractor Works). The project will require about 300-350 million dollars. As for the financing, Uladzimir Siamashka noted that they will attract funds for the project.

"It will be loans from foreign banks. There is no secret, that these will be mainly loans form China," – he specified.

They plan to build the plant three years after the final decision on lending is made.