OREANDA-NEWS. April 22, 2010. Lithuanian Imedeksa plans to co-found a wood-processing company in Minsk Region’s Smolevichi District with investments totaling 1 million euros, Forestry Minister Mikhail Amelyanovich told a news conference.

“We are working with the Lithuanian company on that project. They are ready to invest up to 1 million euros to purchase a modern processing line, whereas Belarus will only contribute buildings,” the minister said.

Amelyanovich said the ministry welcomed initiatives to set up joint ventures with foreign capital.

The ministry is also in talks with Italian Melinka Italia over the creation of a pellet production based on Borisov forest farm. The investor is ready to supply equipment worth 1.5 million euros.

Forestry companies of the country will create 11 export-oriented productions of pellets, briquettes, coal, split firewood with required investments totaling 36 billion Belarusian rubles (Br). (Br2,980 - USD 1)