Lukashenko OKs project to reconstruct Minsk airport with Chinese loans
07 June 2011
MINSK (Prime-Tass) -- Belarusian President Alexander Lukashenko has approved the investment project to reconstruct National Airport Minsk in 2011-2014, create an international passenger transit terminal, equip the airport with security and alert systems and build a second airstrip capable of receiving А-380 aircraft. The investment project envisages involvement of Chinese loans. The president signed relevant ordinance #223 dated June 2, 2011.
China National Precision Machinery Import & Export Corporation will act as the general contractor to design, construct and reconstruct property, engineering and transport infrastructure. The Chinese company will act via its office in Belarus and procure commodities for the construction, reconstruction and equipment of the airport.
The president also exempted from import customs duties and value-added tax production equipment, components and spare parts, as well as materials imported in Belarus to implement the project.
The ordinance also exempts from the value-added tax revenues from turnover of commodities, design, construction and equipment services performed by the general contractor’s office by January 1, 2015.
The representation of China National Precision Machinery Import & Export Corporation has been exempted from the state duty for issuing work authorizations for foreign citizens and stateless persons involved in the construction.
Belarusian state organizations and subcontractors registered in Belarus are exempted from transfers to innovation funds from costs of commodities, operations and services provided and procured in the scope of the project.
According to earlier reports, the project will cost an estimated U.S. $600 million.