The Belarusian-Russian joint venture “Derevyanny Dom” will be registered in the Free Economic Zone Vitebsk in the near future. The new company will produce frame houses using the Canadian technology, BelTA learnt in the FEZ Administration. The investment project has been approved by the Commission on Economic Competitiveness Improvement of Belarus’ Council of Ministers. The Belarusian-Russian founders of the joint venture intend to invest about EUR7.5 million of direct foreign investments in the construction of the facility. The basic technological equipment will be purchased in Germany, the USA and Switzerland. The implementation of the project will allow FEZ to create more than 70 new working places. The new plant is projected to be launched in H2 2009. The products of the company will be exported to foreign countries. Using the Canadian technology, the new company will produce the “sandwich bearing-wall house” the wearing surface of which will be a timber frame. Due to this technology, the frame houses are assembled within 3-5 days. Free Economic Zone Vitebsk was set up in August 1999. As of December 29, 2007, the zone includes 31 residents. The territory of FEZ includes seven sectors with total area more than 1.1 thousand hectares.