The Belarusian government has decided to mortgage the assets of Shklov Newsprint Mill to Belarusbank for a period up to December 31, 2013. According to the corresponding resolution, the hypothecary value of the mill is BYR 9.89 billion.
As was formerly reported, in line with the business plan, the Shklov- based newsprint mill will make 40,000 tons of newsprint annually, which will be enough to completely satisfy local demand and export surplus products abroad.
The investment project to the construct a newsprint mill in Shklov was adjusted in terms of the future enterprise's capacity and financing required.
In particular, the planned capacity of the company has been reduced from 200 thousand tons to 40 thousand tons a year. Besides, the volume of investments required was cut from $400 million to $96 million.
The adjusted project now includes the plans for the creation of an enamel-paper shop (20 thousand tons of paper a year) and a saw materials shop (107.8 thousand cubic metres a year). The company's exports will make 20 thousand tons of newsprint, 10 thousand tons of enamel paper and 86.2 thousand cubic metres of saw materials a year.