May 30, 2013. /Lesprom Network/. PAPCEL's turn-key construction of a plant producing decorative paper in Belarus, on the existing premises of the state enterprise RUP “Zavod Gazetnoy Bumagi” in Skhlov is the company’s current largest project. The advance payment, which is due in March, will be delayed because of the change in the terms and conditions of the EGAP insurance; the consequent change of the date of approval of the government guarantees in Belarus and the currently on-going selection of financing bank, as the company said in a press release received by Lesprom Network.

The current assumption for the settlement of the advance payment is the turn of May and June 2013. The terms and conditions of the contract stipulate that in such a case it is possible to extend accordingly the schedule of realization of the construction. If the advance payment has not been settled three or more months after the specified date, the realization, with respect to the seasonal works that cannot be carried out in the same year, can be postponed for five months.

According to the terms and conditions of the contract, in order to comply with deadlines of construction of the new plant, (delivery of the object in January 2015), PAPCEL, a.s. has started to realize the preparation stage of the project even before drawing the advance payment.

A greenfield construction of a plant for decorative paper production, with a complete supply of the technology and the construction. The delivery includes a complete paper machine, a stock preparation system, a building for technology, infrastructure, a boiler room and a water treatment facility.