OREANDA-NEWS. April 20, 2010. Belarusian President Alexander Lukashenko has allowed by his ordinance #162 extending budget loans to Spartak paper factory, based in Shklov, totaling Br 132.7 billion.

The first loan, amounting to 107.7 billion rubles, will be extended in 2010 for equipment acquisition and financing of construction and setup operations. The second loan, amounting to Br 25 billion, will be provided in 2011.

The factory will have to meet production and profitability targets for 2008-2020.

Spartak started a large-scale modernization project worth USD 40 million in 2008.