An investor from Iran will set up a factory to produce powder paints in Vileika District, Minsk Oblast, BelTA learned from Deputy Chairman of the Vileika District Executive Committee Gennady Kostevich.
A foreign manufacturing and trading company Bel Peka Paint was set up in January 2012 to implement the investment project. Gennady Kostevich informed that the company signed a €9.2 million investment agreement with the Minsk Oblast Executive Committee. So far about $3 million of the amount has been used.
The new factory will occupy 10,000 square meters and will be set up at the production premises in the village of Izbino. The company plans to produce about 10,000 tonnes of powder paints every year. The major production facilities will be equipped with Italian lines. “The equipment has already been ordered. By now 20% of its cost has been transferred to the manufacturer,” Gennady Kostevich said. The new company also plans to apply for loans to Belarusian and foreign banks.
Powder paints are used to coat metal products and products from aluminum. These paints are in demand on the Russian and European market. The use of powder paint allows reducing the amount of paint needed and guarantees a long coating life. More than that, powder paints are cheaper than alkyd or aluminum paints.
The new production will be launched in August 2016. The company will create 360 new jobs.
Apart from implementing the investment project, Bel Peka Paint acts as an official representative of Central Asia's biggest producer of powder paints, Iranian company Peka Chemie Industrial Co. “Thus, even before opening the new factory the company has been establishing contacts with potential customers and exploring sales markets,” Gennady Kostevich said.
Written by belta.by
