Belarusian veterinary drugs manufacturer to implement investment projects worth $5m
The Belarusian company OAO BelVitunipharm intends to implement two major investment projects worth a total of $5 million. The plans were discussed as Vitebsk Oblast Governor Nikolai Sherstnev visited the company.
According to the governor, the company was in quite a difficult financial situation in the past. However, the stabilization process is now over – at present BelVitunipharm demonstrates steady growth across the board. “The company should put together a new roadmap now. We have to understand what veterinary medications are in demand, how we can marry BelVitunipharm's work with the manufacturing sector and agricultural enterprises, what innovative projects need to be implemented in order to start making products that will sell well in Belarus and abroad,” Nikolai Sherstnev noted.
The governor believes that BelVitunipharm has the foundation for working out a comprehensive program to tackle all the mentioned spheres. Moreover, the company has key components for implementing investment projects – raw materials and a team of experienced professionals. According to BelVitunipharm Director Sergei Bolshakov, the first project worth about Br6 million involves the production of medications to cure rabies. The business plan to implement the project is already ready. The project looks effective and is expected to recoup investments within two years. The company intends to get down to implementing the project soon even without outside support, only using its own resources. The other promising import-substituting project provides for developing the production of blood serum to make blood-derived products. “It is a serious step forward for us. Nothing like that exists in Belarus for now. We see that the market demand in Belarus alone already exceeds the annual amount of products we intend to make initially,” the executive said.
The project is estimated at $2 million. However, the company's working assets are limited. Most of the money is channeled into developing the production of veterinary medications while some is spent on paying off old debts. This is why the implementation of the second project has been delayed for now. During the meeting Sergei Bolshakov also put forward proposals, which may benefit the company and the region's animal husbandry industry. Among other things BelVitunipharm is ready to undertake the burden of setting up a single veterinary service in the region. With this in mind BelVitunipharm specialists will certify all the veterinarians in the oblast in 2020-2021 in order to evaluate their competence and form a talent pool using the best qualified specialists. BelVitunipharm specialists will also organize classes to improve practical skills of the veterinarians. “We already offer classes like that in the form of lectures, discussions, and roundtables. They produce a tangible effect because they allow participants to share the best practices and improve their personal qualifications. Even specialists from Brest Oblast come to us to participate in such meetings,” the BelVitunipharm director noted. Summing up results of the visit, the Vitebsk Oblast governor told mass media that key directions of development had been sketched out during the meeting. “We've determined what we are going to do in the near future, how we can connect BelVitunipharm products with manufacturers, how we can move on, how we can control the effect of these medications, and how we can train the local specialists,” Nikolai Sherstnev concluded.
The public joint-stock company (OAO) BelVitunipharm is a leading Belarusian biological industry company. It specializes in sophisticated innovative medical and preventive preparations, biological preparations for veterinary needs. The product choice includes over 150 titles. The company accounts for virtually 50% of the total volume of veterinary drugs used in Belarus.