08-08-2012 13:52 Belarus
Vnesheconombank Group to invest $300m in Mozyr NPZ upgrade
Russia’s Vnesheconombank Group is set to provide a $300 million credit for a technical upgrade project run by Belarus’ OAO Mozyr NPZ oil refinery, Bank BelVEB CEO Pavel Kallaur told reporters Tuesday.
Belarus-based Bank BelVEB is affiliated with Vnesheconombank Group.
Furthermore, Vnesheconombank Group plans to provide $500 million in loans for companies engaged in the project to build Belarus’ first nuclear power plant. “Now the deal is at the stage of technical approvals. It is difficult for me to predict how quickly the two sides will be working. but in my opinion, all these technical issues will be settled for 1.5 - 2 months. This can be September-October,” Kallaur said.