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Foreign investors keen in venturing in to Bellegprom firms

10
Jun '10
Bellegprom companies are receiving keen interests from foreign investors, so announced, Chairman of the Bellegprom Light Industry Group's, First Vice Chairman, Vladimir Astrovsky, during a press meet.

Turkey-based investor has shown interest in the Kamvol Company of the group and is likely to partake in setting up of a new wool mill. A jean apparel manufacturing project is in under consideration with Turkey partners.

Germany's association with the light industry will most likely be, in a project, which is due to be implemented by the Baranovichi cotton manufacturing association. While the Bellegprom's apparel firms are being eyed by Russian-based firms.

As per Astrovsky, luring foreign investors and shareholders, was one of Bellegprom's priorities. As of now, the group comprises of 63 joint stock firms.

The change of Orsha Linen Mill and Baranovichi cotton manufacturing association, in to multiparty stock firms has been delayed for now, as approved by the government, owing to huge modernisation projects, which are currently ongoing in these firms.

Further more, Astrovsky also informed that, projects with foreign investors are only implemented on the basis of mutually beneficial terms and hence, time take to formulate these projects is longer.

Fibre2Fashion News Desk - India


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