Lithuanian investor pulls out from Babruisk

The Lithuanian group of companies Oil Pack Invest  has decided to refuse from the idea of building a waste processing plant in Belarus, Yezhednevnik reports. The investor planned to build the plant in Babruisk.

The agreement was reached after the VII International Investment Forum “Mahilou Region – Way to Success” in November 2014. The Lithuanian company agreed with the local authorities and promised to build a waste processing plant to produce energy from waste. The project cost €195 million euro.

There was information about the Austrian bank Reiffeisen’s plans to provide a loan for this project. The project was ready, everything was calculated and even a building site was chosen. However, the implementation did not kick off.

This is not the first time when foreign investors refuse from Belarusian projects due to the long economic recession and vague prospects, Yezhednevnik reports. The Lithuanian company Vicunai (the construction of a fish processing plant near Minsk), the Austrian holding Strabag (equipment of refineries with biogas plants) and Estonian casino operator Olympic Entertainment Group also refused from their projects.