Belarus’ cement plants, Grodno Glassworks to be compensated interest on loans – resolution

<p> MINSK, Feb 17 - PrimePress. Belarusian cement enterprises and Grodno Glassworks OJSC will be compensated the interest on loans from Belarusbank OJSC and the Development Bank of the Republic of Belarus OJSC from the national budget in 2021, as per government resolution No.83 of February 15, 2021 posted on the National Legal Internet Portal on February 17, 2021. </p> <p>   </p> <p> Cement producing enterprises will receive compensation in Belarusian rubles at the loan interest rate, but not more than 100% of the refinancing rate set by the National Bank of Belarus (currently 7.75%) and in U.S. dollars and euros at the loan interest rate, but not more than 7% per annum to paid in Belarusian rubles at the official rate of the National Bank. </p> <p>   </p> <p> The Belarusian Cement Plant (Kostyukovichi, Mogilev Oblast) will receive state support on six loans given by Belarusbank to the total of $55.75 million, €3.113 million and Br44.63 million ($17.299 million at the rate of National Bank of Belarus). The loans were provided in 2009-2012. The debt under these loans amounted to $35.217 million and Br40.704 million ($15.777 million) as of December 1, 2020. </p> <p>   </p> <p> Krasnoselskstroymaterialy OJSC (Volkovysk District, Grodno Oblast) will be compensated interest on two loans totaling Br11 million ($4.263 million) given by the Development Bank of the Republic of Belarus in 2010 and 2011. The debt under these loans stands at Br3.801 million ($2.152 million). The company will also be compensated interest on loans obtained under the four loan agreements signed with Belarusbank in 2009-2012: $45.818 million, €6.667 million and Br17.231 million ($7.79 million). The debt under these loans amounted to $24.151 million, €1.139 million and Br10.811 million ($4.190 million) as of December 1, 2020. </p> <p>   </p> <p> Krichevcementoshifer (Mogilev Oblast) will be compensated interest on four loans from Belarusbank in the amount of $219.179 million lent in 2009 and 2012. The principal debt amount stood at $166.726 million as of December 1, 2020. </p> <p>   </p> <p> Grodno Glassworks will receive compensation of interest on loans from Belarusbank under loan agreements signed in 2014-2015. The loans total about $1.173 million, €774,947 and Br3.351 million ($1.298 million). As of December 1, 2020, the debt on these loans amounted to 993,066 dollars, 752,972 euros and 265,229 Belarusian rubles ($102,805). </p> <p>   </p> <p> Grodno Glassworks will be compensated the interest on loans in Belarusian rubles at 50% of the National Bank refinancing rate, and 50% interest rate on the loans in foreign exchange to be paid in Belarusian rubles at the official rate of the National Bank. The released funds will be used to replenish circulating assets of the company. </p> <p>   </p> <p> The resolution enters into force on the date of issue, and covers the relations arising from January 1, 2021. </p> <p>   </p> <p> Krasnoselskstroymaterialy was founded in 1914 and transformed into a joint stock company in 2001. The state share in the authorized capital is 97.308 %. The company produces cement, dry mixes, building lime, chalk, cellular concrete products, sand-lime stone and bricks, paving slabs, and foundation blocks. </p> <p>   </p> <p> The Belarusian Cement Plant has been operating since September 1996. It was transformed into an open joint-stock company in January 2012. The state owns 99.0249% of its authorized capital. Orshastroymaterialy OJSC and Minsk Silicate Products Plant OJSC became part of the company in 2016. </p> <p>   </p> <p> Grodno Glassworks was founded in 1922 and transformed into an open joint-stock company in 2012. The state share in the authorized capital makes up 98.65%. The plant produces green glass packaging, reinforced and patterned glass and exclusive packaging. The company operates a plant in Grodno and a branch of the Yelizovo glass factory (Mogilev Oblast). End (Br2.5799/$1) </p>

2021-02-18

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