29 March 2021
Over Br4bn invested in Gomel Oblast in 2020GOMEL, 29 March (BelTA) – More than Br4 billion has been invested in the economy of Gomel Oblast in 2020, Gomel Oblast Governor Gennady Solovei said as he spoke about the region's performance in 2020 at the session of the Gomel Oblast Council of Deputies of the 28th convocation, BelTA has learned.
Gennady Solovei noted that efforts to create favorable business environment encourage foreign direct investments. In 2020, Gomel Oblast attracted $230 million in foreign direct investments, including $103 million on a net basis.
Several important investment projects were implemented last year. For example, Svetlogorsk Pulp and Board Mill launched the production of bleached sulfate pulp. “This is a brand new product for Belarus. While exporting up to 87% of its output, the enterprise fully satisfies the domestic demand,” Gennady Solovei pointed out.
Belarusian steel mill BMZ completed a large-scale project to increase the capacity of secondary steelmaking. This helped bring steel output to three million tonnes a year.
Other important projects were upgrading the drying section of Mozyrsol and renovating the poultry farm of Belorusneft-Osobino.
Gennady Solovei assured that the implementation of large-scale investment projects will continue in 2021, which will help boost the region's economic capacity. Plans are in place to commission the Petrikovsky mining and processing factory and a facility for hydrocracking heavy oil residues at Mozyr Oil Refinery, launch the production of coated and uncoated cardboard in Dobrush and the production of medical products at Alcopack.