The implementation of the investment project "Construction of the gearbox factory" was extended until 2021. The relevant decree of the President of Belarus, Alexander Lukashenko, dated August 1, No. 272, was published on the National Legal Internet Portal, BelTA informs.

The document amends the decree of April 10, 2014 No. 157, according to which the project was to be implemented for 2014-2017 in the Minsk region.

The current investment project includes the construction of a plant for the production of mechanical, hydromechanical gearboxes and elements of electromechanical gearboxes with the necessary engineering and transport infrastructure to it, as well as the development of this product.

Construction of the plant, execution of research and development work, financing of the company's economic activities, which is the customer for the design and construction of the enterprise, will be carried out at the expense of the innovative fund of the Minsk City Executive Committee and other sources not prohibited by law. 

The Minsk City Executive Committee was instructed to take a decision within three months to transfer 490 shares of JSC "Zavod hydromechanical gears" with a nominal value of Br100 for a total amount of Br49 thousand to Minsk, which is owned by Minsk

The decree comes into force after its official publication.