Commentary to Decree No. 153 of 4 April 2013

    President of Belarus Aleksandr Lukashenko signed Decree No. 153 “On the construction of the multifunctional complex in the city of Minsk” on 4 April.

    The document stipulates the implementation of an investment project in 2013-2018 to build the multifunctional complex within Filimonova Street, Nezavisimosti Avenue and Makayenka Street. The complex will feature a hotel, a car park, a sports and recreation center, a medical center and an autonomous energy generation installation.

    In order to construct and carry out maintenance works at the multifunctional complex the investor will be provided with a land parcel of 8.27 hectares. The investor will also transfer $17.2 million to the Minsk city budget to obtain the right to conclude a rental contract.

    Goods imported to Belarus as part of the implementation of the investment project will be granted an exemption from import duties and value-added tax until 31 December 2018.

    The investor will pay the damages for the withdrawal of the land parcel and demolition of the group of buildings including the Moskovsky bus station, the total of $13.7 million to be transferred to the city budget, too.

    Besides, there are plans for the investor to provide grant financing for the construction of a multilevel road interchange at the intersection of Nezavisimosti Avenue and Filimonova Street (50% of the project cost estimate). The investor will also provide $3.3 million for the construction of a 30-flat apartment house for large families.
    The decree shall enter into force on the date of its signature.