On November 5, 2021, CITIC Construction signed an EPC contract for the Phase III of the Belarus Agro-Industrial Complex project, with the total contract amount changed from RMB 3.8 billion to RMB 4.8 billion. Yang Jianqiang, Deputy President of CITIC Construction and Danil Uritsky, General Director of the owner, Belarusian National Biotechnology Corporation, signed the contract on behalf of both sides respectively at the project site.
Since the EPC contract of the project was signed in August 2020, CITIC Construction has cooperated with the owner to update the feasibility study of the project according to the current development of the industry, the market situation in Belarus and the economical efficiency of the product. And the feasibility study has been re-approved by a committee on foreign exchange and credit of Belarus. Based on the production of fodder and amino acids in Phase I and Phase II, Phase III will use part of the public works to produce high value-added products such as vitamin C and vitamin B with corn as raw material and adopt the most advanced process and strains. After completion, the project will once again fill the technological gap of Belarus in the related fields and bring a brand new value to achieve import substitution and export earnings.
BNBC's key administrative personnel and the principals of CITIC Construction's Eastern Europe and CIS Division attended the event.