Belarusian President Alexander Lukashenko has lended his support to the new retooling projects at Mogilev-based chemical fibres plant Mogilevkhimvolokno.
The total value of funds to be invested in the project is estimated at $440 million.
The head of state visited Mogilevkhimvolokno Chemical Fibres Plant to learn more about the company’s financial position and the new projects to be launched in the near future, the president’s press service told Interfax.
At the moment, Mogilev Chemical Fibres Plant is mot free to make long-term plans, as the company heavily depends on imports for only 10% of the necessary basic materials are locally available.
The company is pinning its hopes for better raw stuff supplies to Belneftekhim Concern, which is set to run a dedicated project that would claim an estimated $470 million.