Belarus-based processor and importer investing 3.5 million dollars to modernize production

November 16, 2007 12:44
Belarus-based processor OAO "Grodnoryba" (plc) is planning to build a new production facility for seafood processing, a spokesman of the company told Interfax.

Owing to the necessity of transferring the existing seafood processing from the residential area, in August 2007 the enterprise stopped running the old factory and began building the new one. The new plant is to be built in the industrial zone near the company's office building and cold stores. This will lead to drastic reduction of transport, time and labour costs during the transportation of raw material and finished products.

It is estimated that the installed new equipment will allow to produce up to 1 000 tonnes of seafood products per annum that is 2.5 times up on the old unit's capacity.

At present time the company is developing the business plan and project documentation and also examining the range of commodities, which will be produced at a new enterprise.

The building work and the purchase of equipment are expected to begin in 2008. The facility is supposed to be put into operation in 2009.

This project's cost is estimated to be 7-8 billion BYR (about 3.5 million USD). It is expected to be financed at the expense of funds from the regional budget and the Innovation Fund of President's Affairs Administration.

Currently OAO "Grodnoryba" (plc) is marketing imported freshfrozen fish, ready-to-eat fish products and fish snacks. Now to partly compensate for the reduction of product range because of the decommissioned old facility, the company is increasing import volume of such products. There are more than 50 seafood items in the enterprise's product range.

OAO "Grodnoryba" (plc) is selling its products in the Belarusian city of Grodno and in the surrounding region.

The enterprise was established in 1977 as a fish wholesaler. In 2003 it was reorganized into OAO "Grodnoryba" (plc). The state's share in the enterprise's stated capital amounts to 99.5%.

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