Belarusian Government Allowed The Factory to Produce Latest Varieties of Cotton

The Belarusian Government is upgrading production facilities at the OAO Baranovichi Cotton Production Amalgamation and the process will be completed by mid-2014, Prime Minister Mikhail Myasnikovich has said.
 
The new equipment to replace the existing ones is expected to arrive by mid-2013 and the project will get completed by mid-2014, the Prime Minister said, after reviewing the status of project implementation, according to Belarusian news agency BeITA.
 
In recent years, the export volume of the company has increased by 1.5 times, while its production has gone up by nearly 120 percent, Mr. Myasnikovich said.
 
At present, the average salary at Baranovichi-based factory is about Br 2.9 million, which would increase to Br 3.2 million this month. The average salary would reach further to US$ 1,000 after the modernization work at the plant gets completed, he said.
 
The Prime Minister said the cotton factory imports all the cotton it requires for further processing and hence there is some deficit in the firm’s foreign trade balance. However, the Government is making efforts to increase export and decrease the deficit.
 
Under the President decree of April 25, 2012, the Belarusian Government is investing in replacement of outdated machinery in weaving, finishing and sewing divisions at Baranovichi factory. In addition, an independent power source is also being installed.
 
The upgradation is expected to allow the factory to produce latest varieties of cotton and mixed yarns and fabrics.