Projects
Government Bodies
Flag Monday, 11 August 2025
All news
All news
Economy
25 May 2012, 18:46

BelAZ to invest over $660m in extra production space


ZHODINO, 25 May (BelTA) – The Belarusian mechanical engineering company OAO Belarusian Autoworks (BelAZ trademark) plans to invest over $660 million in building additional production space, BelAZ Acting Director General Vladimir Volchok told Russian reporters on 25 May. The reporters were on a media trip around Belarus, BelTA has learned.

In 2011 BelAZ turned out a record high of 511 supersize dump trucks, with the carrying capacity of 90-360 tonnes. However, the number is well above the company’s production capacity. To fully meet the growing demand, the company has to work three shifts a day and on weekends. Following the company’s management decision and authorization by the Prime Minister of Belarus a program has been adopted to set up more production space. The company plans to use its own funds and borrow money to spend over $660 million on the project. “We will take money from the bank that will offer the best terms,” said the BelAZ Acting Director General.

The extra production space will allow turning out 838 supersize rock haulers and spare parts by the end of 2014. “It is quite a serious and expensive program, nevertheless, we believe it will pay for itself fast thanks to rising exports,” said Vladimir Volchok. At present BelAZ makes 60 dump trucks per month with the carrying capacity of 90-360 tonnes.

BelAZ is also busy preparing for an IPO, including cooperation with Deutsche Bank. “We planned to do it by the end of 2012 but now the deadlines are shifting,” he said.

Founded in September 1948, the Zhodino-based mechanical engineering company Belarusian Autoworks (BelAZ) was incorporated into a joint-stock company in 2010. The company is part of the system of enterprises of the Belarusian Industry Minister. BelAZ offers rock haulers, frontal wheeled loaders and bulldozers, tow trucks, special vehicles for underground operations, heavy-duty trucks for metallurgy industry, and other specialized vehicles. BelAZ accounts for a third of the global market of rock haulers.
Follow us on:
X
Recent news from Belarus