Belarus-Italy joint venture to be set up at Legmash

Belarus-Italy joint venture to be set up at LegmashITALIAN company Manuli Rubber Industries and a Belarusian plant Legmash, a part of Belarusian Steel Works, have plans to set up a joint venture. The partnership will focus in the production of high-pressure hoses for mechanical engineering. The capacity of the new enterprise is estimated to be enough to fully meet the domestic demand and export more than 50% of produce. The production of water-cooled elements of metallurgical ovens in Orsha was considered as well.

The implementation of the main investment projects of Belarusian Steel Works will happen this year up until 2015. The project includes the construction of the third limekiln installation, the reconstruction of the combined-cycle installation, the building of the light-section mill.

Belarusian Steel Works fulfilled main economic targets of the first quarter of 2012. Manufacture of products rose by 102% in comparable prices, profitability of sales by 13.2%. Foreign trade surplus made up US$237.9 million.

In 2012, Belarusian Steel Works was reincorporated as a joint stock venture. The enterprise produces cast sections, packed, iron and reinforcing bar, and other types of wires. The company is one of the biggest exporting companies of Belarus. The enterprise exports over 85% of its products to 71 countries and employs over 12,000 workers. (PRA)