Minsk is interested in investments of Omani State General Reserve Fund

       The Minsk City Council is interested in cooperation with the Omani investor, Minsk Mayor Nikolai Ladutko told a press conference.
       Earlier the State General Reserve Fund of the Sultanate of Oman withdrew from the construction project in the Belarusian capital. The project involved the construction of a multi-function compound featuring a five-star hotel, luxury homes and shopping centers. It was expected that the project would be commenced in 2011 and completed by 2016. The total investment was estimated at over $400 million.
      “We are not happy about the investor’s withdrawal from the project. It is a big investment project and at some point the chiefs of the reserve fund decided to re-channel financial flows,” Nikolai Ladutko said.
Minsk is doing claim-related work with companies that signed investment projects. The objective is to break the deals in a peaceful way. “We have reached understanding on dissolution of investment agreements; the process is going on. We see prospects and have suggested other forms of cooperation. The investor responded positively to our proposals. We maintain relations with this state. Time will pass, the vision will change, new investment opportunities will emerge, so let the company implement them,” Nikolai Ladutko said.
      The project to construct the multi-function compound is still on the agenda. The Minsk City Council is ready to consider other investment proposals to build facilities that will fit well into the architectural concept of the capital city.