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Capital investment in Grodno Oblast to remain unchanged in 2012

P align=justify> In 2012 the amount of capital investment in Grodno Oblast will be the same as in 2011, which is about Br11.7 trillion. This is stipulated by socioeconomic development targets for the region for 2012. These targets were approved by Council of Ministers’ Resolution No. 1779 of 30 December 2011, BelTA learnt from the economy committee of the Grodno Oblast Executive Committee. Deputy Chairman of Grodno Oblast Executive Committee Alexander Rusanov explained that no increase in investment is planned for this year for a number of objective reasons. Grodno Oblast was among the leaders in capital investment growth in 2011. About 50% (Br5.8 trillion) of capital investment will be channeled into the manufacturing industry, 17% (Br2 trillion) in agriculture, 14% (about Br1.6 trillion) in housing construction. The most important investment projects in the manufacturing industry include the renovation of carbamide-4 and ammonia-4 shop floors as well as cord and caprone shop floors at Grodno Azot, production of fiber glass at Neman Glassworks, purchase of a cigarette packaging line for Grodno Tobacco Factory Neman. Investments are earmarked for over 50 significant projects in agriculture: construction of dairy complexes, upgrade of pig breeding farms, etc. The oblast executive committee underlined that the implementation of state innovative development program is an essential element of raising capital investments. This program envisages the implementation of ten major projects with total financing of Br470 billion. They include construction of a big turkey breeding complex, construction of a poultry reproduction facility in the village of Dolgaya, Shchuchin District, technical upgrade of Dyatlovo Distillery and production of bottled water and kvass there.