Eurasian Development Bank (EDB) and Belarusbank will co-finance investment project "Construction of a new bar and wire rod mill at OJSC "Byelorussian Steel Works" - management company of " Byelorussian Steel Works " holding in Zhlobin, Republic of Belarus. Such agreement was confirmed in the Framework Agreement signed by the Chairman of the Board of Belarusbank Siarhei Pisaryk and Deputy Chairman of the Management Board of EDB Gennady Zhuzhlev.
The Agreement provides that the amount of lending the enterprise from the side of EBD, being the arranger of the project financing, will amount to EUR 141 mln., and from the side of Belarusbank - EUR 142,8 mln.
The project provides construction of rod mill, including purchasing, erection and implementation of modern equipment, as well as installment of a new unit on production of bar and wire rod mill. At the first stage of the project realization the new mill productivity will amount to 700 tonnage capacity. After installment of additional equipment, overall production will achieve 1 million tons per annum.
Putting into operation of a new rod mill will allow setting up a high value added production for international markets sales. Up to quarter of new production output will be supplied to Belarus market, approximately 13 % - to CIS countries, and almost two thirds - to far abroad countries. More than 200 new workplaces will be created at the enterprise.