10 Apr 2024 16:57

Belarus begins deliveries to Russia as part of its import substitution investment projects

MINSK. April 10 (Interfax) - Belarusian enterprises have begun actively shipping import-substituted products to Russia, which were produced under investment projects funded by a Russian state loan of 105 billion Russian rubles, Deputy Minister of Industry Alexander Yefimov said.

"The first products are already being produced and exported to consumers in the Russian Federation. We are actively supplying electronic component products, such as components for conveyor enterprises in the Russian Federation (bridges, gearboxes). As we increase capacity, we plan to add new types of technological and machine equipment to those already being supplied to the Russian manufacturing industry," Yefimov said.

The Ministry of Industry of Belarus and the Russian Ministry of Industry and Trade agreed on 25 import-substituting integration projects with a total investment volume (including enterprises' own funds as well as the Russian state loan) of over 140 billion Russian rubles. An agreement to provide the government of Belarus with a state financial loan from Russia of up to 105 billion Russian rubles was signed in November 2022.

"Currently, 20 projects are in the active stage of implementation. For these 20 projects, it is necessary to purchase more than 1,600 units of technological equipment. About 30% of this amount of equipment has already been delivered to our enterprises and commissioning work is underway," the deputy minister said. "All these projects are aimed at ensuring the technological sovereignty of the Union State - these are primarily microelectronics products, including technological equipment for the production of an electronic component base, and these are components for conveyor enterprises in Belarus and Russia (axles, gearboxes, gearboxes, hydraulic units and much more)," he said.

He also said that Belarus and Russia are agreeing seven new import-substitution projects to be covered by the credit line. "Seven more promising import-substitution integration projects are at the approval stage. They are all planned for implementation on the territory of Belarus as well," Yefimov said.