500 enterprises of Mogilev oblast to be reincorporated as joint stock companies by late 2009

About 500 enterprises of the Mogilev oblast are to be reincorporated as joint stock companies by the end of 2009, chairman of the Mogilev oblast executive committee Boris Batura told a press conference on July 23. By late 2008, all the agricultural enterprises of the oblast are to be reincorporated as joint stock companies. “Thus we will obtain an economic leverage to make heads of agricultural enterprises repay the credits invested in the production,” he noted. Among the companies to be reincorporated are Mogilev-based Electric Motor Plant, Bobruisk Plant of Tractor Parts and Aggregates, Mogilevkhimvolokno, Belshina. “However the state will preserve the controlling interest of these enterprises,” Boris Batura said.

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