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News Belarus government to repay cement companies’ debts to China

Belarus government to repay cement companies’ debts to China

Written by Global Cement staff 07 January 2015
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Belarus: The Belarusian government will acquire additional stakes in three cement companies in exchange for helping them to repay loans to China's Eximbank. The Council of Ministers has issued a directive that provides for restructuring the overdue debts incurred by Belarusian Cement Plant, Krychawtsementnashyfer and Krasnaselskbudmateryyaly as of 1 October 2014.

The three cement producers will receive the bailout on condition that they meet their profitability of sales targets for 2015 and fulfil their obligations to Eximbank starting 2015. Krasnaselskbudmateryyaly, Belarusian Cement Plant and Krychawtsementnashyfer owe US$34.4m, US$43.7m and US$50.6m to the Chinese bank, respectively, in overdue loan payments.

Published in Global Cement News
Tagged under
  • Belarus
  • Government
  • China
  • Stake
  • Acquisition
  • Debts
  • GCW182
  • Krasnaselskbudmateryyaly
  • Belarusian Cement Plant
  • Krychawtsementnashyfer
  • Eximbank

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