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25 November 2022, 14:44

Belarusian Cement Company, Northern Waterfront investor sign cooperation agreement

MINSK, 25 November (BelTA) – Belarusian Cement Company and Riverside Development Holdings Limited from the UAE have signed a cooperation agreement as part of the Northern Waterfront construction project, BelTA has learned.

Taking part in the signing ceremony were Director General of Belarusian Cement Company Aleksandr Dovgalo and founder of Emaar Properties and investor in the Northern Waterfront project Mohamed Ali Alabbar.

Under the terms of the agreement, Belarusian Cement Company will supply materials to build the Northern Waterfront multifunctional complex in Minsk.

“Investments in a country are investments in local businesses. It's good that we can find almost all construction materials that we need in Belarus. In addition to that, the quality of Belarusian materials is so good that I will consider using them in my projects in other countries. Wherever I have a business, I almost always involve only local specialists and workers, including architects, designers, contractors, etc. They know better what should be used and for what. Therefore, in order to implement this project in Belarus, we need local partners,” said Mohamed Ali Alabbar.

On 13 May 2021 Belarusian President Aleksandr Lukashenko signed Decree No. 186 “On the implementation of an investment project in Minsk”. The document sets forth the terms of the construction of a ‘smart city' in Minsk. The project is estimated at €4 billion and will be running for 20 years. The Northern Waterfront experimental multifunctional complex will be built within the boundaries of the Minsk Ring Road, the Tsnyanskoye Water Reservoir and the Drozdy Water Reservoir. This will be a high-density neighborhood (93% of almost 1,000 hectares). The project envisages the construction of 6 million square meters of housing, the National Exhibition Center, the Institute of Artificial Intelligence, the Minsk Center for International Trade, schools, kindergartens, a public park and other facilities of social, engineering and transport infrastructure.

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