Italian holding company eager to implement three investment projects in Belarus

The Italian holding company Gruppo Paoletti intends to implement three investment projects in Belarus, BelTA learned from representatives of the National Agency of Investment and Privatization of Belarus (NAIP). The idea was discussed during a regular visit of Italian partners to Minsk on 22 July. Led by president of the holding company Vittorio Paoletti, members of the delegation met with representatives of the Agency and the Belarus government.

The Italian company plans to implement a project for collecting, removing, sorting, processing and utilizing municipal waste of the city of Minsk, set up an agricultural enterprise, and build biogas and wind-powered energy installations. During the negotiations the sides reached an agreement that the Agency will continue providing the investor with complex support in implementing investment projects.

As a result of the first visit and meetings with NAIP representatives in March 2014 the investor was made familiar with the basic legal acts regulating investments and the generation of energy out of renewable sources. Investment intentions of the Italian holding company were reviewed.

During the second visit representatives of the Italian holding company toured the land plots that had been selected for implementing the investment projects. The sides also discussed tax aspects of doing business in Belarus and other matters concerning the planned projects.

Gruppo Paoletti is a major Italian group of companies that was founded in 1967. It comprises the following divisions: ecology and services (waste logistics, processing, and management), agribusiness (lands in Argentina and Italy, a meat-packing factory in Italy), the production sector (production and sales of oleum and sulfuric acid), real estate (several projects to develop land plots in Italy and Argentina including a business park that occupies 1 million m2 near the international airport Fiumicino in Rome, Italy), energy generation using renewable sources (the company has a track record of implementing projects involving solar energy, wind energy, and biomass energy).

At present the company is busy implementing the project to build a wind farm with the output capacity of 46MW near the commune Rotello, Italy.