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Tax preferences for Belarusian Integral subsidiary

Author: Mikhail Doroshevich


Accorging to the Russian news agency Prime-Tass, President of the Republic of Belarus Alexander Lukashenko (Presidential decree N438) has granted tax preferences to state - owned Integral subsidiary Semiconductor Devices Factory.

The Decree states that Semiconductor Devices Factory will get a loan of EUR 5,123 mln. from Belinvestbank under the guarantees of the Belarusian government. This sum, according to the agreement with Austrian Vado Engineering, should be paid for equipment and other services provided by the Austrian company. The total cost of the project is USD 55mln.

The preferences are applied to equipment and services for submicron production of integrated circuits imported within the framework of Semiconductor Devices Factory and Vado Engineering agreement.

It is planned that a pilot line of 0,35 mkm integrated circuits production will be launched in 2006, and 14-15 thousand of plates will be produced monthly in 2007.

Semiconductor Devices Factory, operating since 1963, specializes on the producing of microelectronic details, devices and specialized equipment. The Factory produces some 1 billion integrated circuits annually.

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