MINSK, 18 December (BelTA) - An agreement has been reached to sell a share package of OAO Minsk Wheel Tractor Plant (MZKT) to a Russian investor, BelTA learnt from the press service of the Belarusian government following the 17 December session of the Council of Ministers Presidium.
First Vice Premier Vladimir Semashko updated the session participants on the status of implementation of five industrial integration projects with the Russian Federation in 2013. The projects involve five public joint-stock companies OAO MAZ, OAO Integral, OAO Peleng, OAO Grodno Azot and OAO MZKT.
In particular, it was noted that agreements have been reached to sell MZKT's share package to a Russian investor after an additional issue of stock which has been placed at a market price. The funds received will be used to retool and modernize the enterprise. The project has been scheduled for implementation in 2014. The sides have made decisions concerning the development of the model line-up of the two enterprises and agreed to jointly design a new generation of hydromechanical transmissions. This project will be funded by the Union State budget.
“Various cooperation options have been discussed during negotiations over the rules and conditions of implementing the project to integrate OAO Peleng into the structure of the Russian Federal Space Agency,” the press service added. The implementation of this project is due to conclude in 2014.
First Vice Premier Vladimir Semashko updated the session participants on the status of implementation of five industrial integration projects with the Russian Federation in 2013. The projects involve five public joint-stock companies OAO MAZ, OAO Integral, OAO Peleng, OAO Grodno Azot and OAO MZKT.
In particular, it was noted that agreements have been reached to sell MZKT's share package to a Russian investor after an additional issue of stock which has been placed at a market price. The funds received will be used to retool and modernize the enterprise. The project has been scheduled for implementation in 2014. The sides have made decisions concerning the development of the model line-up of the two enterprises and agreed to jointly design a new generation of hydromechanical transmissions. This project will be funded by the Union State budget.
“Various cooperation options have been discussed during negotiations over the rules and conditions of implementing the project to integrate OAO Peleng into the structure of the Russian Federal Space Agency,” the press service added. The implementation of this project is due to conclude in 2014.
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