ROSBALT //

The agreements on the NPP construction in Belorussia have became a positive sign for the  economy of the country. This opinion was expressed by UFS Investment Company analyst, Paul Vasiliadi in the interview to «Rosbalt». In his opinion, the NPP can provide volatility to Belorussia. Besides, the expert is sure that the participation of the Russian Federation in the NPP construction  can affect expressly the revision of the sovereign rating of Belorussia upwards.

According to Vasiliadi, finally, arrangement  of maximum comfortable conditions for the international capital and strengthening of the economy due to increase of capitalization and establishment of financial and industrial holdings, together with construction of NPPs, will allow Belorussia to strengthen its status essentially.

One more positive sign in this sphere is the plan for privatization of 244 enterprises of the country approved on Wednesday, on the 23-rd of March, by the Government of Belorussia. Vasiliadi considers that privatization will allow to involve great volumes of foreign investments and lower national debt risks.

In view of the above, the expert expects that the cost of bonds of Belorussia, which is  currently in the “underestimation” zone , will increase in the nearest future, having overcome the starting point of the beginning of the year.

Let us remind you that last week during the visit of Russian Prime Minister, Vladimir Putin, to Belorussia it was declared that the credit agreement, according to which Russia shall allocate about $ 6 billion for construction of the NPP in Belorussia, can be already signed within a month. The Head of the RF Government explained that currently the matter of infrastructure financing was being discussed. Putin has noted that, as a rule, this financing is provided  by the party in whose territory the plant construction is being carried out.

But we are discussing the opportunity of crediting in this part as well»,  the Prime Minister declared.

 On the 15^th of March  the agreement on cooperation of the RF and Belorussia in the course of the NPP construction in the Belorussian territory was  signed. The capacity of the future plant, which will be constructed according to the Russian design, will be 2,4 МW. The General Contractor is Russian Company Аtomstroyexport.  The excavation for the NPP is assumed to  start  in September, 2011.  The commissioning of the first power unit is planned for 2017, of the second one - for 2018.

Previously Belorussia officially addressed the Russian Government with the request of allocation of the state credit in the amount of $9 billion for the NPP and infrastructure construction. Now the Ministries of Finance of the two countries are negotiating the draft of the credit agreement. As it is anticipated, in May the parties will sign the general contract for the NPP construction. According to the estimations of the Belorussian party, the total amount of financing for the NPP construction, including the infrastructure, comprises about $9 billion.