Bykhov Cannery OJSC is going to get a state subsidy that will enable it to carry out a large-scale modernization project, Interfax learnt from Mogilev Region Administration.
The administration is planning to allot BYR 9 billion from the regional budget to facilitate the modernization of the company. In addition, Belarusbank will lend BYR 5.3 billion to Bykhov Cannery.
The estimated cost of the upgrading project is EUR 8.7 million, the source reported.
The project stipulates the construction of another canned food shop that will help the company boost the output of canned peas, beans, mushrooms, tomato sauces and ketchups.
The company is also expected to considerably expand its product range and improve the quality of goods.