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Chinese Sinomach to become shareholder in China-Belarus Industrial Park

20 November 2014

MINSK (BelTA) – The Chinese corporation Sinomach will become a shareholder in the China-Belarus industrial park Great Stone, the press service of the Belarus government told BelTA after Vice Premier of Belarus Anatoly Tozik met with top executives of China CAMC Engineering Company.

The press service quoted CAMCE President Luo Yan as saying that shareholders on the Belarusian side and the Chinese one have univocally decided in favor of allowing the major Chinese corporation Sinomach to become a shareholder in November 2014 while the charter fund of the joint venture will be greatly increased.

Participants of the meeting also discussed other matters regarding the construction of the China-Belarus Industrial Park.

“We are getting down to practical work in the park,” said Luo Yan. “The expert evaluation of the designs for building networks and communications and the development of construction designs for the infrastructure are nearly over. Preparations in the construction site area have begun. Everything indicates that the project has started developing rapidly. We constantly feel the attention that the Belarus government, the State Council of China, and the leaders of both countries pay to the project”.

In turn, Anatoly Tozik remarked that the creation of the industrial park is now moving faster and more effectively. “We consider the fact that the Chinese side has initiated the increase in the charter capital of the joint venture and China's largest corporation will transfer its contribution by the end of November as a testimony of serious attention and intentions of China with regard to the project. We have felt that the process of the industrial park's creation is now moving faster and more effectively,” said the Vice Prime Minister of Belarus.

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Ministry of Foreign Affairs of the Republic of Belarus