Byelorussian Iron and Steel Works (BMZ) has announced that it is continuing to search for partners to set up a new flats production facility in Byelorussia.
BMZ is currently negotiating with some potential partners from Russia, Germany and South Korea, seeking not only a partner who will have money to invest, but also one who possesses a raw materials base. The final decision on choosing the partner will be taken by the Byelorussian government.
BMZ has also negotiated with several British and Austrian banks for credit to finance the new flats project, which will require about $2-2.5 billion. The official approval of the project by the Byelorussian government and president is expected in 2009.
The project is planned to be completed in the next five to six years.