The National Agency of Investment and Privatization, the Embassy of the Federative Republic of Brazil and the Brazilian Trade and Investment Promotion Agency «Apex-Brasil» organized the visit of «Magnesita» company to Belarus.
Based in Brazil, the «Magnesita» group (www.magnesita.com) is a transnational producer of refractory materials, cement, as well as a developer of integrated solutions in the field of improving production capacity and reduction of the cost of the production of industrial enterprises.
The group holds the 1st place in Latin America in the production of refractory construction materials for the mining and steel industries, as well as cement. Moreover, «Magnesita» is the third largest manufacturer of refractories in the world. It owns 29 industrial centers on all the continents, with a total refractories production capacity of more than 1.4 million tons per year. More than 80% of raw materials are received from company’s own deposits and mines. Annual turnover is more than 1 billion U.S. dollars.
The main objective of the «Magnesita» visit was to establish cooperation with Belarus within the implementation of perspective investment projects as well as to explore the possibility of a strategic alliance with Belarus in the medium and long term.
According to the results of the presentation held at the Agency and subsequently organized meetings between the «Magnesita» delegation and the management of relevant ministries, a Memorandum of Understanding between the National Agency of Investment and Privatization and the «Magnesita» company, confirming the intention to intensify bilateral investment cooperation, was signed.
Negotiations at the Ministry of Industry
(Photo by Magnesita Company)
During the visit of the «Magnesita» delegation there were organized several meetings and negotiations at the Ministry of Industry, the Ministry of Architecture and Construction, the Ministry of Foreign Affairs, the Embassy of Brazil, as well as at the enterprises of the Belarusian industry, including cement manufacturer.
During the negotiations there were reached an agreement with the Belarusian enterprises for the provision of advisory support from the Brazilian side and technical cooperation on improving the equipment performance, optimization of the manufacturing process and reduction of production expenses.
Negotiations at the Ministry of Architecture and Construction (Photo by Magnesita Company)
According to the results of the visit, Letters of Intent between the Brazilian company and the Ministry of Industry and the Ministry of Architecture and Construction were concluded.