OREANDA-NEWS. May 4, 2010. State-run Konus, based in Lida District, in 2010-2011 will create an import-substituting production to protect large metal constructions with hot zinc plating, under presidential ordinance #178 dated April 9.

Konus will take a budget loan to create the production, pay the national agency for insurance of export loans and pay interests on a 43.9 billion-ruble loan to be extended by Belagroprombank in 2010-2011.

Belagroprombank in 2010-2011 will provide a five-year 11.907 billion-ruble loan and 8.5-year 5.471 million-euro loan to Konus. Interests under these loans will be partially paid from the budget – 50% of the refinancing rate of the central bank for the ruble loan and up to 50% of the euro-denominated loan.

The budget loan will be repaid in equal quarterly tranches from January 1, 2013 through December 31, 2016.

Konus will be exempted from VAT imposed on import of commodities required by the new production.