EBRD and Belinvestbank support truck producer Belaz
Major transaction under the Trade Facilitation Programme
Belarus’s leading manufacturer of dump trucks and specialised equipment, Belaz, will be able to expand its export activity in the Indian market with a major trade operation facilitated by the EBRD and Belinvestbank.
Belaz will export 77 dump trucks to India after the company won a tender to supply trucks for use in the mining industry across India. Based in Zhodzina near the capital, Minsk, and established in 1948, Belaz is also the manufacturer of the biggest dump truck in the world.
Following the successful bid, Belaz had to provide a number of guarantees to secure the supply and performance of its products. The EBRD and Belinvestbank provided guarantees for the transaction, which is worth US$ 200 million, under the EBRD’s Trade Facilitation Programme (TFP). Axis Bank of India was the local confirming bank under the transaction.
Since the start of its operations in Belarus in 1992, the EBRD has invested almost €2.7 billion in 119 projects in various sectors of the country’s economy.
Belaz will export 77 dump trucks to India after the company won a tender to supply trucks for use in the mining industry across India