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A $220-mln investment project of Mogilevkhimvolokno and CAMCE (China)

Mogilevkhimvolokno and China CAMC Engineering Co., Ltd. (CAMCE) are implementing a $220-mln investment project. As part of the official visit of Belarusian Prime Minister Mikhail Myasnikovich to the People’s Republic of China, the parties signed a memorandum of cooperation on the investment project Installation of continuous polycondensation of polyethyleneterephthalate with direct fiber fabrication and industrial thread manufacturing.

According to Mogilevkhimvolokno Director General Sergei Puzevich, once the project is completed, the annual capacity of the plant will increase 1.5 times to reach 200,000 tonnes of polyester. “It will result in a 2.5-time reduction in energy consumption and staff optimization,” the plant’s head added.

CAMCE is a subsidiary of China’s engineering corporation (SINOMACH), one of China’s largest state corporations that makes part of China’s leading engineering equipment developers and producers. Besides, an agreement was signed with Huadian Company on cooperation in developing and investing in the energy distribution project in the Chinese-Belarusian Industrial Park. The parties also concluded an agreement on cooperation in opening a technological cluster of Great Wall Company in the park.

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