VITEBSK, 2 February (BelTA) – A Belarus-Russia joint venture Natrix has plans to launch the production of road construction machinery and equipment for the oil and gas industry in the FEZ Vitebsk, BelTA learnt from the investments and foreign economic links department of the FEZ Vitebsk.
The joint venture is going to invest over ?1 million in the new production. The new resident company will manufacture asphalt spreaders to repair roads, urban highways, and sidewalks, as well as rotary tools for the mechanical removal of the upper layer of bituminous concrete pavement. The new company will also make directionally controlled drilling systems which can be used as part of coil tubing complexes.
The investment project is designed to substitute the import of similar products. Over 70 new jobs will be created. The production facility will be located at one of the industrial sites of the city.
The free economic zone Vitebsk was founded on 4 August 1999. Today the FEZ is running 38 investment projects. Over 60% of its resident companies are joint ventures and foreign companies with investors from 13 countries including Germany, the USA, the UK, Canada, Czechia, Poland, the Netherlands, Israel and Russia. The resident companies offer fuel, chemical, light industry, mechanical engineering products, and food. The free economic zone includes 12 sectors, with the total area exceeding 2,100 hectares.
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