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Belshina, WB discuss ways to attract financing for second stage of company's upgrade project

Economy 14.07.2017 | 17:06
During the visit to Belshina. Photo courtesy of the company
During the visit to Belshina. Photo courtesy of the company

MOGILEV, 14 July (BelTA) – Representatives of the World Bank Country Office in Belarus visited the Bobruisk-based tire maker Belshina this week. Belshina Director General Aleksei Yakovlev informed World Bank Country Manager for Belarus Young Chul Kim about the opportunities and prospects for boosting the company's manufacturing capacities, BelTA learned from Belshina.

The parties talked about ways to attract financing for the second stage of the project to upgrade the Belarusian enterprise. Aleksei Yakovlev said that the first stage of the investment project to arrange the production of all-steel radial tires with a rim seat diameter of under 63 inches is over. The second stage of the project is focused on adjusting the product lineup, reducing the output of tires with a rim seat diameter of 57 and 63 inches and increasing the output of giant all-steel radial tires with a rim seat diameter of 49 and 51 inches.

“The second stage of the project will be started once we are finished with fine-tuning the manufacture of new products as part of the first stage and make the necessary adjustments in terms of the kind and amount of equipment we purchase,” Aleksei Yakovlev noted. The revision of the schedule of the project will be completed in August 2017. The amount of investment is estimated at $58.5 million, and the output capacity at 5,580 all-steel tires with a rim seat diameter of 49 and 51 inches per year.

Young Chul Kim visited the upgraded unit for the production of giant tires and the unit manufacturing mass market tires. The WB official praised the high level of automation of the production process. The parties agreed to continue the mutually beneficial cooperation.

Founded in 1972, Belshina is one of Europe's top tire makers. The company offers over 350 standard sizes and models of tires. Belshina trades with more than 75 countries. The main domestic consumers include Belarus' largest enterprises such as BelAZ, MAZ, MTZ, MZKT, Gomselmash, and Amkodor.

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