Svetlogorsk Khimvolokno to run three big investment projects in 2011
MINSK, 16 March (BelTA) – Svetlogorsk Khimvolokno has plans to implement three major investment projects in 2011, BelTA has learnt from the company.
First, the company plans to boost production of polyether filament to 38,500 tonnes per year. The output growth will make up Br60 billion. The second investment project envisages the increase in the production of soft polypropylene packages (the output growth is estimated at Br17 billion). Third, the company will continue the upgrade of the nonwoven fabric shop floor and increase its production output by Br33 billion.
Within the next five years, the company is determined to build up the production capacity, embrace innovative technologies, enhance the competitiveness of products and pursue a more aggressive marketing policy.
The company is holding talks with Chinese investors who are taking part in the construction of a bleached pulp production facility at Svetlogorsk Cardboard Mill. This project is of great importance for the country. The company will use the products of Svetlogorsk Cardboard Mill to produce 75,000 tonnes of viscose staple fiber. The project is estimated at about $180 million.
The projects will help create jobs, increase wages and strengthen social security of employees, increase tax payments to the budget, Khimvolokno specialists believe.
For the past six years the company’s export went up 45.5%. In 2010, the company exported products worth nearly $82 million and had a foreign trade surplus of $44.9 million. The production of industrial goods increased 50.4% as against 2005. The output of consumer goods soared 2.3 times for the past six years. The output per employee has increased by 86.8%. In 2010 the energy intensity of production was twice as less as in 2005. Capital investments increased 3.2 times to a total of Br362.4 billion in 2005-2010, with Br105.4 billion invested in 2010. In 2011, the company is expected to raise Br114.4 billion worth of investments.
Founded in 1964, Khimvolokno is one of the largest petrochemical companies in Belarus. It operates polyester textile fiber and synthetic fibers plants, facilities to produce carbon and polymeric materials, consumer goods. Khimvolokno exports its products to 40 countries.