BELARUS NEWS AND ANALYSIS

DATE:

December 14, 2005

Belarussian mining companies likely to invest in JV projects

Kolkata

As the bilateral trade between India and Belarus is poised to touch the 200 million dollar mark this year, two major Belarussian mining companies are exploring the possibilities of setting upt up joint venture in West Bengal with substantial investment.

Amabassdor of Belarus in India Oleg N Laptenok told newsmen here this evening that two state-owned Belarussian mining giantd - Belshina and Belaz - had evinced keen interest in the possibility of setting up joint venture units with suitable Indian partners for the supply of heavy mininig equipment and other machineries.

Mr Laptenok was speaking to newsmen on the sidelines of an interactive session with members of the Bengal National Chamber of Commerce and Industry(BNCCI) during his madien two day visit to the city after assuming the office a few months ago.

The Belarussian envoy said senior representatives from both mining companies had visited West Bengal since October to get the first hand view and explored the possibility of their investment opportunities in the state, particularly in the areas of open cast mining, for which the required machineries and the huge earthmovers were required to be imported from their country.

Referring to the huge business opportunity for Indian companies in Belrus, now a member of the Commonweath of Independent Nations (CIS) after disintegrating from the erstwHile USSR and considered to be the epicentre of Europe, the Amabassador said under the changing global economic scenario opportunities in several other fields had also opened up.

He said last year following a massive turnaround in Belarussian economy the volume of trade between India and his country crossed the Rs 1000 crore (128 million dollar) mark with the balance of trade tilting very much in favour of this country.

He said while pharmaceutical items, high precision machinery, consumer goods, tea and coffeee comprised the bulk of Indian export to Belarus, heavy mininig machineries, scientific items and night vision equipment for the military purposes were among the major items imported from Belarus to India.

With the globalisation programmes getting further momentum in both the countries, the volume of trade was poised to cross the 200 million dollar mark by March 2006, the Belarussian envoy emphasised and urged the Indian business community to take full advantage of the opportunity.

Referring to the unmatched scenic beauty of Belarus, which was, however, observing the 20th anniversary of Cherovyl nuclear disaster next year, Mr Laptenok said there was ample scope for tourists not only from India but from actross the globe to enjoy them at very competitive cost advantages from the neighbouring countries like Poland and Ukraine.

Earlier, he also called on West Bengal Assembly Speaker Hasim Abdul Halim and discussed several bileteral mattwers with him.

Source:

http://news.webindia123.com/news/showdetails.asp?id=191178&cat=Business