Chinese CITIC that is expected to participate in the modernization of Belarusian cement plants has offered Belarus unacceptable co-operation terms, says Vice Premier Vladimir Semashko.
The unacceptable clause is related to environment standards, the source specified.
The modernization projects imply the construction of three cement-making lines at the Belarusian Cement Plant, Krichevtsementnoshifer and Krasnoselskstroimaterialy (each with an annual capacity of 1.8 million tones).
Within the framework of the Belarusian-Chinese agreement, Belarus will receive a reduced-rate loan of $27 million and a buyer credit of $500 million.
These loans will cover 85% of the cost of the modernization projects. The remaining 15% will come from the companies' funds.
The new cement-making lines are expected to be commissioned by 2010. They should raise Belarus' annual cement output from 3.7 million tones to 9.1 million tones.