Vitebsk oblast to invest Br1 trillion in construction branch in 2008-2010

In 2008-2010, the Vitebsk oblast of Belarus intends to invest about Br1 trillion in the construction branch, BelTA learnt in the committee for construction and architecture of the Vitebsk Oblast Executive Committee. The funds will be assigned for modernization and technical upgrading of construction companies. In line with the programme of the development of the regional construction branch for 2008-2010, the funding will be carried out at the expense of equity capital of the construction companies, innovation funds of the Vitebsk Oblast Executive Committee and the Ministry of Architecture and Construction of Belarus, loans. More than 800 various machines at the amount of Br300 billion are expected to be purchased for construction organizations and, first of all, for the companies which build houses in rural areas. Within two years, more than Br400 billion will be invested in renovation of the construction companies of the region. More than Br250 billion will be invested in the companies which produce construction materials. Owing to the programme of the development of the regional construction branch for 2008-2010, by 2011 the Vitebsk oblast will commission around 1.2 million square meters of housing annually, two times more as against 2008. The construction branch of the Vitebsk oblast includes 410 companies including 347 construction companies and 15 companies which produce construction materials. In early 2008, the construction branch of the Vitebsk oblast employed almost 38 thousand professionals.