OREANDA-NEWS. February 04, 2010. Belarusian Metal Plant (BMZ), based in the Gomel Region, has extended until March 1, 2010 the tender to build a flat stock plant, a source at the company told.

Foreign investors wish to analyze the proposal of the Belarusian plant and risks more thoroughly, a representative at the producer said.

BMZ had sent proposals to Japanese Mitsubishi, Russian Severstal and South Korean Posco.

Russian Severstal on Friday officially denied that it had presented its bid for the construction of the flat stock unit at BMZ.

As was reported earlier, in October 2009, BMZ opened a tender to find an investor capable of financing the project, estimated at USD 1.2-1.3 billion.

The new production unit will have a capacity of 1.2 million tonnes of sheet products a year.

The construction period will depend on the investor.

A joint-stock company will be established to build the plant, with foreign investor taking from 50% to 100%.

State company Belarusian Metallurgical Plant was launched in 1984. BMZ exports about 85% of its output. Non-CIS countries account for more than 70% of the BMZ’s exports.