OAO Vitebskie Kovry becomes resident of FEZ Vitebsk

On December 29, OAO Vitebskie Kovry (Vitebsk Carpets) was registered as a resident of Free Economic Zone Vitebsk, BelTA learnt from FEZ Administration. As the resident of the zone, in the future the company plans to increase production, to extend a product line, to boost export. To make this the company is expected to invest Br14.3 billion in the production. According to specialists, by 2012 OAO Vitebskie Kovry intends to increase the production of carpets up to 7.2 million square meters, or 9% up as against 2007. In 2012, the export share in the total production is projected at 71%. At present, the company mainly supplies its carpets to Russia (60% of the total export), Kazakhstan (12%), Ukraine (1%) and Latvia (1%). 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.