Residents of the Belarus-China industrial park Great Stone to double to 60 by late 2019

Residents of the Belarus-China industrial park Great Stone to double to 60 by late 2019
Residents of the Belarus-China industrial park Great Stone to double to 60 residents by late 2019
By bne IntelliNews May 15, 2018

The number of resident companies of the ambitious Belarus-China Great Stone industrial park is expected to rise to 55-60 by late 2019 vs the current 34 residents, according to the park's head of administration Alexander Yaroshenko.

"By the end of the year [2018] their number is expected to make at least 40. In 2019 there will be not less than 55 companies, while the projected number is over 60. In general, we want this figure to reach 100 by 2020," BELTA news agency quoted Yaroshenko as saying.

He added that the amount of resources invested in the industrial park since the launch of the project will reach $500mn in 2018. "This will be resources of the resident companies and investments in infrastructure. At present the figure stands at over $300mn," he added.

According to bne IntelliNews data, around $300mn has been channelled into the development of the park's first phase since its inception in 2012, when Belarusian President Alexander Lukashenko officially established the project by a special decree.

The majority of the funding was secured by the industrial park’s management company mainly as loans provided by Chinese state-controlled banks, and provided by CMG. According to initial estimates, the entire first stage of the Great Stone requires $500mn-$600mn.

The first stage of the park covers over 850 hectares. This space will be used, according to the marketing material, for "industrial, logistic and public facility purposes". A 350-hectare strip bordering on Minsk’s international airport has been allocated as the starting zone for high-priority construction.

 

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