OREANDA-NEWS. The Zhlobin-based Belarusian Metallurgical Plant (BMZ) raised fixed capital investments 65.9% in January-July 2014 to Br1.915 trillion (USD 184.125 million).

The government's press-service reported these figures following the latest visit of Prime-Minister Mikhail Myasnikovich to the metallurgical plant.

The company used the money to upgrade its technological facilities, increase output to 3 million tonnes of cast iron a year, cut the prime cost and reduce the share of imported components in the end product.

In July 2014 the company decreased output due to falling prices of metal products in external markets - the average price fell by USD 21.6 per tonne (down 3.4%).

Companies controlled by the BMZ Group exported USD 873.3 million worth of products in Jan-Jul 2014, which translated into a USD 483.4 million surplus in foreign trade.

In 2011-2014 OAO Belarusian Metallurgical Plant accomplished a USD 23 million project to upgrade its metal-melting arc furnace and the dust-and-gas handling system. The upgrade will optimize the economy the melting process and reduce its environmental impact. The upgrade is part of the long-standing programme aimed at increasing the annual capacity to 3 million tonnes of steel and manufacturing products with a high added value.

State-owned company Belarusian Metallurgical Plant was launched in 1984. BMZ exports about 85% of its output. In Jan-Sep 2013 BMZ products were exported to the EU, Russia, the Middle East, Ukraine, the United States, Africa, South Africa. The EU, the Middle East and Russia account for 86.6% of the BMZ's total exports.