Lithuanian, Finnish initial investments in Belarus’ trading network development to total $200 millio

The initial volume of Lithuanian and Finnish investments in the development of large trading networks in Belarus will reach $200 million, President of the Senukai Association (Lithuania) Augustinas Rakauskas stated at a meeting between Chairman of the Minsk City Council Mikhail Pavlov and a delegation of the business circles of Lithuania.

“At the first stage we plan to invest nearly $200 million in the development of the wholesale and retail trade, other services. It is not the limit and everything will depend on the level of partner relations with Belarus,” he said. The second stage will include investments in the construction of trading and other centers, terminals, erections necessary for business development.

Alvydas Zabolis, Manager of the company Zabolis Partners (Lithuania), said: “We have been working for five years to find partners in Belarus for a joint project”. A joint company with OMA came out as a result. Those agreed to take part in the joint project in Belarus include the Finnish company KESKO, a leader among the Scandinavian trading companies, and the Lithuanian Senukai leading among the Baltic countries in sales of household appliances with the total turnover of 600 million euro a year.

According to the company’s manager, $100 million will be put in the turnover capital of OMA Company. Another $100 million will be allotted for the infrastructure development. “We have a minimal plan for OMA development that, first of all, is aimed at the development of a network of trading centers with the total area of 100 thousand square meters. The turnover is expected to near $800 million by 2014,” he said.

Alvydas Zabolis stated that in the near future the company is going to launch the construction of a trading center in Dzerzhinsky Prospect. “It will be a pilot project that will make a name for us,” he said.

Mayor of Minsk Mikhail Pavlov noted that the Belarusian side “is ready to give pace to the process”. “If you have an intention to create a good trading center of household appliances, we will consider the proposal,” the Chairman of the Minsk City Council said.

Speaking about the construction of a trading center in Minsk, the Mayor of the Belarusian capital noted that the company should start the construction immediately. “We are interested in your company being presented in Belarus by a large network and promoting Belarusian sales via the Lithuanian trading networks,” Mikhail Pavlov underlined.

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