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Lelchitsy Regional Executive Committee
13 December 2013

China Eximbank’s loan to be used to electrify Gomel-Zhlobin railway section

MINSK, 13 December (BelTA) – The project to electrify the Gomel-Zhlobin railway section will be implemented using a loan of the Export-Import Bank of China. The decision was formalized by Decree No. 552 “Concerning electrification of the Gomel-Zhlobin railway section” as of 9 December. The document was posted on the national legal Internet portal.

The decree aims to improve the operation of railway transport. The investment project “Electrification of the Gomel-Zhlobin-Osipovichi section and the Zhlobin-Kalinkovichi section. The second phase. The Gomel-Zhlobin section” is to be implemented in 2013-2015 in line with the construction contract signed on 3 December 2012 by Belarusian Railways and the Chinese electrical equipment export-import company.

The document allows cutting trees and bushes on the construction site with subsequent sale of the timber. There will be no need to get the approval of the head of state in order to conduct construction works on the farmland and in forests.

In line with the decree, in 2013-2015 technological equipment, its component parts and spare parts imported to Belarus to implement the project will be exempt from the VAT and import duties taking into consideration Belarus’ international obligations. If the imported equipment is not used for the intended purpose, the customs duties and the VAT will be paid in full. The Ministry of Transport and Communications will inform the State Customs Committee and the Ministry of Taxes and Duties about the completion of the investment project.

The proceeds from selling the project-related goods and services by the Chinese company will be exempt from the VAT in 2013-2015.

The fourth article of the decree that provides for the exemption from import duties and the VAT will extend to transactions conducted after 15 April 2013.

The decree came into force on the day of its signing. It will be implemented by the government and supervised by the State Control Committee.

Новости Беларуси (БЕЛТА)