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04 July 2022, 18:51

New FEZ Grodnoinvest resident company to make goods out of synthetic polymers

Photo courtesy of FEZ Grodnoinvest
Photo courtesy of FEZ Grodnoinvest

MINSK, 4 July (BelTA) – A new resident company of the free economic zone (FEZ) Grodnoinvest will make goods out of synthetic polymers and quartz agglomerate, the FEZ Grodnoinvest press service told BelTA.

The business plan of the new resident company OOO Vimzovplast provides for setting up a modern enterprise with high-tech equipment for pressure casting, formation of a broad range of goods made of synthetic polymers and quartz agglomerate, and the launch of manufacturing of an import-substituting product – a polymeric synthetic granulate. Most of the manufactured goods will be sold within the framework of the special legal regime of FEZ Grodnoinvest by promoting manufacturing cooperation ties with resident companies in the free economic zone and some of the goods will be exported to Russia.

The investor intends to get down to making the products in Q4 2022. The total investment costs of the project will exceed €1 million. The total volume of investments in the course of implementing the project will exceed the total tax exemptions by six times. There are plans to create 30 jobs over the entire period of the project's implementation.

OOO Vimzovplast is the third resident company that has been registered in FEZ Grodnoinvest since the beginning of the year. The Russian company Barinpack was registered previously with a project for making environmentally safe packaging in Grodno District. OOO Unionway has been registered with a project that provides for building a container terminal in Svisloch District.

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