Stadler Minsk seeking EBRD investments

15.05.2019 09:52 / Belarus

MINSK - Stadler Minsk is in talks with the European Bank for Reconstruction and Development to raise investments for the expansion of production facilities. Director General at Stadler RUS Ltd Mikhail Shumski made a statement to this effect during the Financial Institutions Day conference that was arranged by Belarusbank on May 14.

Shumski reminded that the development of Stadler Minsk started with an EBRD loan worth €27 million. The same amount was invested by the owner of the plant.

According to the source, the new investment could enable the company to produce around 400 aluminium wagons per year.

Stadler Minsk currently produces trains for the Minsk Metro, Norway, Hungary, trams for Bolivia. At the moment, the company is negotiating contracts with Georgia, Azerbaijan and the Belarusian Railway Company.

Since the start of its operations in Belarus in 1992, the EBRD has invested over €2.4 billion in 115 projects in various sectors of the country’s economy. In 2016 the EBRD adopted a new strategy for operations in Belarus in 2016-2019. The document abolished the calibrated approach, which restricted EBRD operations with the public sector. Belarus and the EBRD have been implementing a number of projects in utilities industry, energy saving, transport infrastructure and environment protection.

Source: PrimePress

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