OREANDA-NEWS. September 30, 2010. Belarusian Metal Plant (BMZ) has selected an Italian investor in its flat steel plant, General Director Anatoly Savenok said during an exposition.

The name of the investor was not announced, because the project needs to be approved by the Industry Ministry. The approval is expected within a week, Savenok said.

“Italy will provide up to 30% of investments, and we will agree later what to contribute – equipment, land, energy. We plan to make 600,000 tonnes of hot-rolled sheet steel a year,” Savenok said.

He also said the share of the Belarusian holder would depend on the size of the charter capital of the joint venture. “Our team of negotiators will discuss every aspect of the deal – who will borrow and be responsible for repaying, how the equipment will be bought, etc.,” he added.