A new resident, Kesar Industrial LLC, has been registered in the Brest free economic zone, Deputy Head of the FEZ Administration Alexander Shukailo reported.
The company with Belarusian-Israeli capital is based in Kobrin and specialises in lumber operations
The company intends to continue its activities in this field in its new status, but on a qualitatively different level. To this end, the company has leased a plot of land and bought the buildings on it. After renovation, production will be relocated there.
According to the business plan, the company will produce furniture boards made of laminated chipboard, a laminated bar product with a wide range of applications.
A significant share of the products will be exported to foreign markets. The new production is planned to start within three years. At the initial stage, the company intends to invest over €500,000 and create at least 10 jobs.
There are now 73 companies from 20 countries operating in the Brest Free Economic Zone, including four residents working in the wood processing sector
In January-August, industrial production in the FEZ increased by almost 32% compared to the same period last year.
Goods worth $587.1 million were exported (growth rate - 123.5%). Brest Oblast's share in the total exports was 29%, up 2% from last year.
FEZ residents have invested Br86.2 million in fixed assets. Net foreign direct investments totaled $41.5 million. More than 400 people have been employed.