OREANDA-NEWS. The National Agency for Investments and Privatization (NAIP) is still inviting bids from local and foreign companies interested in purchasing a 99.025% stake in OAO Baranovichi Concrete-Steel Construction Plant, NAIP said in a release.

The closing date for bids has been moved from September 1 to September 22, 2014.

NAIP in association with a financial advisor made preparations for choosing a strategic investor for OAO Baranovichi Concrete-Steel Construction Plant.

The financial advisor for the project is a consortium that includes KPMG Tanacsado Kft. (Hungary), KPMG Ltd. (Belarus), the law firm Stepanovsky, Papakul and Partners (Belarus), Raidla Lejins & Norcous (Lithuania).

NAIP views a potential strategic investor as a private company manufacturing construction materials for at least 3 years, with average annual business proceeds totalling at least USD 90 million or equity capital totalling at least USD 20 million.

As previously reported, the National Investment and Privatization Agency in association with the World Bank launched a pilot privatization project for eight open joint stock companies: Belgazstroi, Minsk Margarine Factory, Avtomagistral, Building and Installation Group No.8, Baranovichi Concrete-Steel Construction Plant, Medplast, Konfa, Belsantekhmontazh-2. The Belarusian agency plans to involve international financial organizations with a wide experience in privatization.

Established in 1969, OAO Baranovichi Concrete-Steel Construction Plant manufactures 195,000 cubic metres of reinforced concrete blocks a year.