Belarus govt counts on foreign funding to retool MTZ tractor factory
<p> MINSK, Jun 26 - PrimePress. The Belarusian authorities count on being able to conduct a large-scale retooling campaign at Minsk Tractor Works (MTZ) at the expense of trade financing programmes by the world’s leading suppliers of of equipment and technology on favourable terms for Belarus. </p> <p> </p> <p> Belarus Prime Minister Roman Golovchenko made a statement to this effect following a tour of MTZ on June 26. </p> <p> </p> <p> “Buying [equipment and technologies] is easy but we have to make it as economical as possible. We have to bring finance from those vendors here. All the world's leading producers want to participate in tenders. One of the conditions specified by MTZ is that they have to bring their money here. We don't want the project to be a drain on the state budget in any way,” said Roman Golovchenko. </p> <p> </p> <p> Speaking about MTZ’s operation in current conditions, the prime minister pointed out that markets have shrunk and sales have dropped all over the world due to the pandemic, this is why the state supports enterprises. “But it will be too much of a burden on the state budget in the long run. This is why the enterprise chose a different tactic. As a matter of principle, Western suppliers are ready to provide resources on more advantageous terms in comparison to Belarusian banks or government investments. This is why, as I've already mentioned, trade financing will be a very advantageous option without putting a drain on the state budget,” Golovchenko explained. </p> <p> </p> <p> The premier said: “We have to actually make a brand new factory. It will be difficult to accomplish because we don't want to do it from scratch, which would be easier. We have to preserve this platform, integrate new divisions into the existing structure of the enterprise.” </p> <p> </p> <p> MTZ was founded in 1946, in January 2014 it was transformed into an open joint stock company with 100% state share. It manufactures tractors with engine capacity ranging from 20 to 355 hp. End </p>
2020-06-27
Primepress
Belarus govt counts on foreign funding to retool MTZ tractor factory
MINSK, Jun 26 - PrimePress. The Belarusian authorities count on being able to conduct a large-scale retooling campaign at Minsk Tractor Works (MTZ) at the expense of trade financing programmes by the world’s leading suppliers of of equipment and technology on favourable terms for Belarus.
Belarus Prime Minister Roman Golovchenko made a statement to this effect following a tour of MTZ on June 26.
“Buying [equipment and technologies] is easy but we have to make it as economical as possible. We have to bring finance from those vendors here. All the world's leading producers want to participate in tenders. One of the conditions specified by MTZ is that they have to bring their money here. We don't want the project to be a drain on the state budget in any way,” said Roman Golovchenko.
Speaking about MTZ’s operation in current conditions, the prime minister pointed out that markets have shrunk and sales have dropped all over the world due to the pandemic, this is why the state supports enterprises. “But it will be too much of a burden on the state budget in the long run. This is why the enterprise chose a different tactic. As a matter of principle, Western suppliers are ready to provide resources on more advantageous terms in comparison to Belarusian banks or government investments. This is why, as I've already mentioned, trade financing will be a very advantageous option without putting a drain on the state budget,” Golovchenko explained.
The premier said: “We have to actually make a brand new factory. It will be difficult to accomplish because we don't want to do it from scratch, which would be easier. We have to preserve this platform, integrate new divisions into the existing structure of the enterprise.”
MTZ was founded in 1946, in January 2014 it was transformed into an open joint stock company with 100% state share. It manufactures tractors with engine capacity ranging from 20 to 355 hp. End