Belarusian Metallurgical Plant to invest USD 250 million in reconstruction in 2006

This year the Belarusian Metallurgical Plant plans to invest USD 250 million in reconstruction, director general of the company Nikolai Andrianov told BelTA. In his words, the BMZ spends all profits on modernising the production facilities. Over the last five years it has spent USD 530 million and USD million in 2005 alone on the reconstruction. "The company's success depends a lot on the innovative development as well as the ability to navigate in the world market, develop a flexible strategy for resolving complicated tasks. However, one can buy any cutting-edge equipment, but it is also important to have good specialists without whom nothing will work," said Nikolai Andrianov. At present the Belarusian Metallurgical Plant is building a pipe workshop, which will house the first Belarusian facility to produce seamless pipes. The work follows the schedule and the workshop will be commissioned on July 1, 2007. The production wing has been built, with the equipment installation expected to start within the next 1.5-2 months. Nikolai Andrianov noted, the workshop construction period will make two years, though the usual term for such a large-scale project makes at least five years. The workshop's designed production capacity will make 250,000 tons of pipes annually. The source informed, this year the plant will finish modernising the hardware facilities. The project costs EUR 61 million. Besides, the company invests around USD 40 million in setting up a sport and recreation facility. "Good health of the people is one of the ways to increase productivity," explained Nikolai Andrianov. In 2007-2008 the company plans to develop the metallurgical production, reconstruct steel furnaces and casting machines. In Q4 2006 the first stage of the project will begin. In January-March 2006 the BMZ's output went up 10 per cent in comparison with the corresponding period of last year. This year's output is expected to make USD 1.15-1.2 billion. The company exports some 90 per cent of the merchandise to over 55 countries. The Belarusian Metallurgical Plant produces about 2 million tons of steel annually. The company employs more than 15,000 people.