OREANDA-NEWS. January 25, 2011. Belarus and Polish Paged plan to establish in 2011 a joint venture to engage in logging operations with investments projected at 2.5 million euros, Forestry Minister of Belarus Mikhail Amelyanovich told.

“We will have a joint logging company with Polish investors. We have just completed talks with Paged and plan to set up the joint venture within just two months – a company in Vitebsk Region to procure broadleaf wood in hard-to-reach areas. This year, we expect procurement volume of 100,000 cubic meters, and will increase it in coming years,” Amelyanovich said.

It is planned to attract 2.5 million euros in Polish investments during the initial phase of the project. “This will be sufficient to launch the logging process, however, additional funds will be required at later phases of the project to increase its capacity.”

On January 1, 2011, Belarus abolished licensing of logging and processing of wood, and the Ministry hopes private investors and individual entrepreneurs will be encouraged to engage in logging and processing of wood. “We plan that independent organizations and individuals will procure up to 2 million cubic meters of wood a year by attracting investments from domestic or foreign sources and establishing joint ventures.”