MINSK, 18 December (BelTA) – The European Bank for Reconstruction and Development (EBRD) will buy a share in the Belarusian agribusiness company Servolux, EBRD representatives told BelTA.
The EBRD will invest €10 million in buying a minority share in SZAO Servolux. It is a private vertically integrated Belarusian agricultural holding company, which operates in several sectors, including production of poultry meat, meat and dairy products, cattle fodder, and food retail.
The money will be channeled into building a new meat processing shop with the output capacity of 70 tonnes of meat per day in Smolevichi, Minsk Oblast. The company will also build a 6.58MW trigeneration plant, which will provide electricity and heat to the meat processing shop. The trigeneration plant will reduce CO2 emissions by 6,200 tonnes per annum.
The EBRD is an international bank, which facilitates the development of the private sector and entrepreneurship initiative. Belarus has been a member of the European Bank for Reconstruction and Development since 1992. Since the EBRD started working in Belarus in 1992, it has invested over €2 billion in projects in various branches of the national economy.
