Belarus to value Minsk Wheel Tractor Plant for Belarusian-Russian JV
MINSK. May 21 (Interfax) - Belarus will value the market value of OJSC Minsk Wheel Tractor Plant (MWTP) for the establishment of a Belarusian-Russian joint venture at the plant.
"MWTP market value is being worked out, we need to value it," Belarusian First Deputy Prime Minister Vladimir Semashko told the press Wednesday when asked about the progress of this project, which is among five Belarusian-Russian integration projects.
MWTP, like all major Belarusian companies, has its own development program to 2020, he said. "There are issues about which path of development MWTP will follow. We need to sign an investment agreement to move forward with the best path, to produce more and with more value added and to obtain synergy from this alliance," Semashko said.
MWTP and its Russian partner have not yet reached an agreement on what product line the new JV will produce. In addition, as with MAZ and Kamaz , MWTP and Rostec must have a unified marketing policy, he said.
Belarus and Russia have been holding talks about creating an alliance between MWTP and Rostec.
The Belarusian government revealed in December 2013 that it planned an additional issue of MWTP shares to be sold to the Russian investor. The project is set to go ahead in 2014.