BelAgroGen to manufacture veterinary medications at Great Stone Park
17 September 2018
MINSK - The research and development centre BelAgroGen was registered as a resident company at the China-Belarus Industrial Park Great Stone (Smolevichi, Minsk Oblast) with a project to build a pharmaceutical factory to manufacture veterinary medications under GMP standards.
It will be Belarus’ first pharmaceutical factory to manufactory veterinary medicines under GMP standards. The company plans to export 70% of its products.
The Great Stone Industrial Park is based in Smolevichi Rayon (Minsk Oblast), where a special economic area will be established on an area of 8,048 ha subject to special legal regulations for a period of 50 years. The industrial park will host business projects in electronics, biomedicine, fine chemistry and mechanical engineering, which resident companies enjoying lucrative tax preferences. End
The total value of the project is estimated at $30 billion. The parties have agreed that Belarus will hold a 40% stake in the authorized capital of the Belarusian-Chinese company that will develop the project.
SZAO Industrial Park Development Company was established on Aug 27, 2012 by Sinomach (32%), Minsk Oblast Administration (30.86%), China Merchants Group (20%), CAMCE (13.71%), Harbin Investment Group (2.29%), Minsk City Administration (0.57%), Belarus’ Horizont Group (0.57%). The Great Stone Park is currently developing its infrastructure.
At the initial stage, 10,000 jobs will be created. After the part starts operating at full capacity, the number of jobs will increase to 132,000. So far 38 companies have been registered as residents at the Great Stone Park.