NAIP is implementing a pilot privatization program under the administration and supervision of the World Bank. This program is supported by a Trust Fund established by the Ministry of Finance of Austria in November 2010 in the amount of US$5 million for duration of up to five years. The objective of the program is to implement a small scale case-by-case privatization program in accordance international best practices in order to attract strategic investors.

1. PILOT PRIVATIZATION
PROGRAM IN
THE REPUBLIC OF BELARUS
This project is supported by a Trust Fund established by the Ministry of
Finance of Austria under the supervision of the World Bank

2. • The government of Belarus has in recent years embarked on
a gradual reform process aimed at fostering domestic and
foreign private sector initiatives. Within the framework of a
broader strategy aimed at attracting foreign investment in
support of the economic modernization, a “case-by-case”
privatization program is expected to target international
strategic investors. The program is supported by a new
Privatization Law issued on July 26, 2010, respective by laws
and the new privatization Agency (NAIP) which was
established on May 25, 2011 as a state institution
subordinated to the Ministry of Economy of the Republic of
Belarus. NAIP collaborates with the State Property
Committee which manages government owned assets.
• The Ministry of Finance of Austria established a Trust Fund in
November 2010 in the amount of US$5 million to support the
Belarus privatization program for duration of up to five years.
The Project will be executed under the administration and
supervision of the World Bank. The objective of the Project is
to implement a small scale case-by-case privatization
program in accordance with international best practices in
order to attract strategic investors.
• Eight medium sized SOEs for pilot cases have been
identified for the Project and assigned to NAIP to privatize.
Background of the pilot
project

3. BARANOVICHI REINFORCED CONCRETE PRODUCTS PLANT
General information
General information
•Open Joint-Stock Company “Baranovichi Reinforced Concrete
NAME OF THE Products Plant” (Short name: OJSC “Baranovichi KZBK”)
COMPANY
•Web-site: www. zhelezobeton.by
•Production of reinforced concrete and concrete constructions and
MAIN ACTIVITY
products (96% of sales)
•Production of wall blocks; ready-mixed concrete; construction metal
OTHER ACTIVITIES products, plaster and cement;
•Blacksmithing, pressing, stamping, profiling, metal powder
PERSONNEL •640 employees
Ownership structure Location
State
99.025%
Private
owners
0.975%
Baranovichi
100%
Financials
YEAR
INDICATORS
2009 2010 9M 2011
Value of net assets, BYR mn 18,756 21,829 22,987
Sales proceeds (products, work, services), BYR mn 62,719 84,291 92,652
Profit from sales of goods, work, services, BYR mn 2 ,26 4,008 2,666
Net profit, BYR mn 979 1,450 1,302
Profitability of sold products, work, services, % 4.1 5.9 3.3
Debtors‟ products, BYR mn 1,724 3,228 9,848
Accounts receivable, BYR mn 5,616 10,839 29,407
Average wage, BYR thsd 1,263.8 1,666.6 2,053.3
(6M 2011)

4. BARANOVICHI REINFORCED CONCRETE PRODUCTS PLANT
Production
YEAR
PRODUCTS, WORK,
OUTPUT
SERVICES 2008 2009 2010 6M 2011
Precast reinforced concrete cu m 146 152 200 168 700
88 922
constructions 400
Bed plates thsd units 657 250 323 145
Ready-mixed concrete cu m 9 592 14 784 12 680 6 235
Building mortar cu m 888 1 037 782 366
Commercial reinforced steel t 18 12 16 4
Industrial work and services t 16 12 10
Strengths of the Company
KEY ADVANTAGES
Proximity to international markets such as Poland and Ukraine The Company`s activities
Access to various modes of transportation including railways and are certified for
highway E35 which leads to Moscow and Warsaw compliance with:
ISO 9001-2009
45 years experience ISO 18001-2009
Raw materials purchased directly from Belarusian suppliers
Superior marketing expertise
Sales
Structure of sales, %
100
19.8 26.6 27.2 The main foreign customer is Russia.
80
Besides Russia the company is actively
60 increasing its exports to
40 80.2 73.4 72.8 Lithuania, Latvia, China and other countries.
20
0
2009 2010 6 months of
2011
Domestic market External market
Address: Bersona str. 14, 220050, Minsk, Republic of Belarus
Tel. +375 17 222 68 41, GSM: +375 29 996 06 23
kd@economy.gov.by

5. BELSANTEKHMONTAZH-2
General information
•Open Joint-Stock Company “Belsantekhmontazh-2 ”
NAME OF THE COMPANY (Short name: OJSC “Belsantekhmontazh-2 ”)
•Web-site:www.bstm2.by
•Installation, sanitary engineering and ventilation works
MAIN ACTIVITY at the facilities of the industrial, residential, social
infrastructure, healthcare and other sectors.
•Manufacture of gate valves, pipe and ventilation, pre-
insulated pipes for heat pipelines;
OTHER ACTIVITIES •Production of pipeline fixtures, inflow chambers of
flexible air ducts, plastic siphons, filters, adjustable and
fixed bar grilles and many other metal structures
PERSONNEL •2000 employees
Ownership structure Location
State
Borisov
76.95%
Lida Minsk
Grodno
Private
owners
23.05% Baranovichi
Soligorsk
Brest Pinsk
100%
Financials
INDICATOR 2009 2010 9M 2011
Net assets value, BYR mn 39,481 51,450 57,369
Revenue from sales of goods, works, services, BYR mn 190,317 246,606 239,606
Goods, works, services sales profit, BYR mn 11,126 16,475 12,284
Net profit, BYR mn 8,234 12,315 8,699
Goods, works, services sales margins, % 5.8 6.7 4.1
Receivables, BYR mn 21,482 30,570 50,590
Payables, BYR mn 25,498 38,493 50,469
2,218
Average wage, BYR mn 1,411 1,761
(6M 2011)

6. BELSANTEKHMONTAZH-2
Production
Year
Goods, works, services Output
2009 2010 6M 2011
Construction BYR mn 136,926 163,091 96,063
Production BYR mn 25,440 33,726 19,958
Minsk-arena Hotel “Europe 5*
National Library Minsk Railway Station
Strengths of the Company
KEY ADVANTAGES
Broad experience (among the completed projects are the The Company`s activities
Minsk Automobile/Tractor/Engine Plants, Grodno Association are certified for
Azot, Soligorsk Potash Integrated Plant, Yubileinaya, Planeta, compliance with:
Belarus and Europe Hotels, Palace of the Republic, National ISO 9001-2001
Library, Minsk Subway)
Solid cooperation with foreign companies
Construction works held abroad
Sales
Sales structure, %
100 Main customers include:
0.7 0.7
80 Construction companies
60 Contracting organizations
99.3 99.3 100 Wholesale and retail companies
40
Industrial enterprises
20
0
2009 2010 6 months
2011
Local market External market
Address: Bersona str. 14, 220050, Minsk, Republic of Belarus
Tel. +375 17 222 68 41, GSM: +375 29 996 06 23
kd@economy.gov.by

7. AVTOMAGISTRAL
General information
•Open Joint-Stock Company “Avtomagistral” (Short
NAME OF THE COMPANY name: OJSC “Avtomagistral”)
•Address: 8 Kizhevatova St., 220099, Minsk
•Construction of roads, airfields and sports facilities
MAIN ACTIVITY
(40.8% of the total revenues for 2010).
•Sale of asphalt, bitumen emulsion, provision of road
OTHER ACTIVITIES transport services, leasing of facilities, machinery, and
equipment.
PERSONNEL •982 employees
Ownership structure Location
State
98.11% Minsk
Private
owners
1.89%
100%
Financials
YEAR
INDICATORS
2009 2010 9M 2011
Net assets value, BYR mn 63,990 70,723 72,183
Revenues from sales of products/work/services, BYR mn 56,315 70,853 67,812
Profit from sales of products/work/services, BYR mn 2,735 3,563 2,825
Net profit, BYR mn 513 682 856
Sales margins, % 6.1 6.4 4.9
Accounts receivable, BYR mn 5,257 5,200 10,546
Accounts payable, BYR mn 7,673 7,550 13,489
1,392

8. AVTOMAGISTRAL
Production
YEAR
PRODUCTS, WORK, SERVICES OUTPUT
2009 2010 6M 2011
Volume of contract repair and construction
work performed by the company‟s staff, BYR mn 51,516 61,388 27,362
including:
- construction BYR mn 14,485 13,524 3,909
- major repairs BYR mn 13,289 14,638 8,702
- ordinary repairs BYR mn 9,423 19,251 3,639
- maintenance BYR mn 12,668 13,179 10,879
- production facilities repairs BYR mn 1,651 796 233
Strengths of the Company
KEY ADVANTAGES
execution of contract work by mobile units The Company`s activities
are certified for
extensive network of technological bases of branches located in compliance with:
regions that have asphalt plants, lines of gravel enhancement and ISO 9001-2009
washing, storage tanks for binding substances enable the ISO 14001-2005
Company to carry out mobile road work throughout the country ISO 18001-2005
production of the most popular road building materials on their
own (cationic bitumen emulsions, asphalt concrete mixtures)
Sales
Sales structure, %
Main customers for the company`s
100 services and products are
80 Belarusian enterprises. Thin coating
60 of roads with hot asphalt mixtures is
100 99.7 100
40 the most sustainable type of work in
20 the market. The main customers for
0 cationic bitumen emulsion are
2009 2010 6 months of enterprises of Minsk and Grodno
2011 Oblasts.
Domestic market Foreign market
Address: Bersona str. 14, 220050, Minsk, Republic of Belarus
Tel. +375 17 222 68 41, GSM: +375 29 996 06 23
kd@economy.gov.by

9. CONSTRUCTION AND MOUNTING TRUST №8
General information
General information
•Open Joint-Stock Company “Construction and Mounting Trust No. 8”
NAME OF THE (Short name: OJSC “CMT No. 8”)
COMPANY
•Address: 37 Kalvariyskaya str., 220073 Minsk
MAIN ACTIVITY •Construction of roads, airfields and sports facilities
OTHER ACTIVITIES •Production of lumber, steel, asphalt concrete, mortar and concrete.
PERSONNEL •592 employees
Ownership structure Location
State
99.79% Minsk
Private
owners
0.21%
100%
Financials
Year
Indicators
2009 2010 9M 2011
Net assets value, BYR mn 44,675 50,776 52,007
Revenues from sales of products/work/services, BYR mn 79,695 81,915 108,719
Profit from sales of products/work/services, BYR mn 383 1,716 3,430
Net profit, BYR mn 141 617 1,251
Sales margins, % 0.6 2.6 3.8
Accounts receivable, BYR mn 4,048 4,984 31,427
Accounts payable, BYR mn 3,959 8,646 22,262
Average wages, BYR mn 1,368.8 1,548.6 1,921.1

10. CONSTRUCTION AND MOUNTING TRUST №8
Production
YEAR
PRODUCTS, WORK, SERVICES, BYR mn
2009 2010 6M 2011
1. Public roads 35,852.5 53,408.9 52,916.1
 Construction 32,771.1 49,690.2 47,453.7
 Major repairs 454.5 2,201.3 1.4
 Ordinary repairs 2,626.8 1,517.4 5,461
2. Other customers 32,997.4 21,933.2 11,186.2
 Construction 14,348.3 15,843.2 3,785.1
 Major repairs 18,183.3 3,391.0 7,401.1
 Ordinary repairs 465.8 2,699.0
3. Total 68,849.9 75,342.1 64,102.3
Strengths of the Company
KEY ADVANTAGES The Company`s activities
are certified for
Relatively high productivity compared to its main competitors compliance with:
(CMT №1, CMT №4, CMT №5, CMT №6) STB ISO 9001-2001
20 years experience STB ISO 14001-2005
STB ISO 18001-2005
Sales
STRUCTURE (%) 2009 2010 6M 2011
Domestic market 100 100 100
Foreign market n/a n/a n/a
Total 100 100 100
Over the recent years the company has carried out its activities on the domestic market only. Main
markets include predominantly Minsk City, Minsk Oblast, Mogilev Oblast, and Vitebsk Oblast. For
20 years of its operations, the Company has built over 830 km of public roads, including of
national importance. It has built 224 thousand square meters of housing, as well as a number of
sites for industrial purposes.

11. BELGAZSTROY
General information
•Open Joint-Stock Company “Belgazstroy” (Short name:
NAME OF THE COMPANY OJSC “Belgazstroy”)
•Address: 4 Sovetskaya str., Minsk
•main contract activity and construction of gas
pipelines, provision of gas supply, installation of
engineering networks and structures, construction of
MAIN ACTIVITY
heat pipelines from pre-insulated pipes, polymer pipe
insulation for gas pipelines and pre-insulation for heat
pipelines
•manufacture of units, parts and metal structures, welded
OTHER ACTIVITIES
joints quality control, tank diagnostics
PERSONNEL •850 employees
Ownership structure Location
Polotsk
Vitebsk
State
50.6% Borisov
Minsk
Private Stolbtsy
owners Osipovichi
49.4% Bobruisk
100%
Financials
YEAR
INDICATORS
2009 2010 9M 2011
Net asset value, BYR bn 24,851 30,362 34,008
Revenue from sales of goods, works, services,
67,682 52,992 85,285
BYR bn
Goods, works, services sales profit, BYR bn 4,270 5,268 6,494
Net profit, BYR bn 2,515 3,244 5,241
Goods, works, services sales margins 7.98 7.78 7.61
Receivables, BYR bn 8,631 9,811 21,147
Payables, BYR bn 11,094 15,336 24,668
Average wage, BYR,‟000 2,272 3,944 1,859 (6M 2011)

12. BELGAZSTROY
Production
YEAR
PRODUCTS, WORK, SERVICES OUTPUT
2009 2010 6M 2011
1. Welded joints quality control BYR, bn 0.256 0.351 0.145
2. Main contract activity BYR, bn 0.714 0.497 0.779
3. Provision of advisory and consultancy services
for PDVSA GAS in construction of gas pipeline BYR, bn 1.284 4.146 2.689
networks and structures in Barinos
4. Goods sale BYR, bn n/d n/d 0.376
Strengths of the Company
KEY ADVANTAGES
The Company`s activities
a strong position in the local market are certified for
compliance with:
demand for the company`s products abroad
ISO 9001-2009
a strategic partner - PDVSA GAS
long-term contracts for products supply
Sales
Sales structure, % Main sales markets: Republic of
Belarus
100% Main competitors at the internal
80% market: SPA Beltopgaz
57 67 At the external market, in 2008
60% 83
Belgazstroi OJSC concluded a
40% contract with PDVSA GAS for
20% 43 33 providing advisory and consultancy
17 services in the sphere of construction
0%
of gas pipeline networks and
2009 2010 6 months 2011 structures in Barinos (Bolivarian
Local market External market Republic of Venezuela).

13. MEDPLAST
General information
•Open Joint-Stock Company “Medplast” (Short name:
NAME OF THE COMPANY OJSC “Medplast”)
•Web-site: www.medplast.by
MAIN ACTIVITY •Production of the single-use syringe
OTHER ACTIVITY •Manufacturing of goods used in construction
PERSONNEL •271 employees
Ownership structure Location
State
99.9%
Private
owners
0.1%
Gomel
100%
Ownership structure
YEAR
INDICATORS
2009 2010 9M 2011
Net assets value, BYR mn 39,144 48,540 55,518
Revenues from sales of products/work/services, BYR mn 19,712 23,804 29,192
Profit from sales of products/work/services, BYR mn 1,684 3,181 7,042
Net profit, BYR mn 1,968 1,685 3,500
Sales margins, % 8.3 15.4 24.1
Accounts receivable, BYR mn 3,840 4,235 6,209
Accounts payable, BYR mn 2,924 2,127 2,017
Average wages, BYR mn 990.1 1,300.6 1,664.6
(6M 2011)

14. MEDPLAST
Production
OUTPUT (BYR mn)
PRODUCTS
2009 2010 6M 2011
16,412 21,937 19,833
Single-use injection syringes
(119 mn pieces) (135 mn pieces) (84 mn pieces)
Other plastic products 152 214 230
Output, total 16,564 22,151 20,063
Strengths of the Company
KEY ADVANTAGES
The Company`s activities
Advantageous location – proximity to Russia and are certified for
Ukraine compliance with:
ISO 9001-2001
Leading position at the market
(about 80% in 2010)
Sales
Sales structure, %
100 9.4 8.1 The main market for export sales is
12.7
80 Russia. The major strategic partners
on this market are the companies
60
„NikKomed‟Ltd. and „Camelia‟Ltd.
40 90.6 87.3 91.9
20 Currently the company is partnering
with „BogMark Ukraine‟ Ltd. for the
0
registration, certification and further
2009 2010 6 months of 2011 distribution of syringes in Ukraine.
Domestic market Foreign market

15. KONFA
General information
•Open Joint-Stock Company “Konfa” (Short name: Konfa
Name of the company/info OJSC)
•Web-site: www.kk.by
•Confectionery goods manufacture (spice
Main activity cakes, cookies, pan goods, wafers and soufflé
sweetmeat)
•6.7 thousand tons of confectionery goods/year
Production capacity •The total production floor space is 3,720 and the
volume of production premises is 23.5 thsd m3.
Personnel •375 employees
Ownership structure Location
State Molodechno
25%
Private
owners
75%
100%
Financials
YEAR
INDICATORS
2009 2010 9M 2011
Net assets value, BYR mn 2,432 3,097 4,120
Revenue from sales of goods, works, services, BYR mn 22,078 27,311 43,694
Net profit, BYR mn 56 347 1,028
Goods, works, services sales margins, % 3.8 7.0 7.5
Receivables, BYR mn 4,335 5,290 9,127
Payables, BYR mn 3,759 4,591 6,391
Average wage, BYR thsd 1,133
741 904
(6M 2011)

16. KONFA
Production
Output structure in 2006-2010
6,000 5,027 5,165 5,354 6,000
3,824 4,123
4,000 4,000
2,000 2,000
0 0
2006 2007 2008 2009 2010
Spice cakes Cookies Wafers
Souffle sweetmeat Pan goods TOTAL
Personnel
Personnel structure by age
0%
under 25 375 friendly and cohesive people presently
8%
17% 25-30 work in the Company.
12% 36-40 The Company is represented by a young
41-45 and enthusiastic team of employees. More
10%
46-50 than 60% of the staff are under 40
9% 31% years old.
51-55
13% 56 and more
Sales
Structure of sales, %
100 8.9 4.6 2.6
80 Konfa OJSC sells its products
predominantly in the local market. The
60 main export markets are Russia and
91.1 95.4 97.4 Germany. Wholesale depots and
40
retail chains are among the main
20 customers.
0
2009 2010 6M, 2011
Local market External market

17. MINSK MARGARINE PLANT
General information
•Open Joint-Stock Company “Minsk Margarine Plant”
NAME OF THE COMPANY
•Web-site: www. margarin.by
•production of margarine products (margarines, cooking
MAIN ACTIVITY and confectionery fats), mayonnaise, production of
ketchup, horseradish and mustard.
•disposal of waste-soap stock;
OTHER ACTIVITIES •refining, freezing out and deodorization of fats and oils;
•packing of vegetable oil.
PERSONNEL •501 employees
Ownership structure Location
State
93.8%
Minsk
Private
owners
6.2%
100%
Financials
YEAR
INDICATORS
2009 2010 9M 2011
Net assets value, BYR mn 35,126 44,277 56,924
Revenues from sales of products/work/services, BYR mn 69,535 95,613 127,487
Profit from sales of products/work/services, BYR mn 7,469 7,872 20,175
Net profit, BYR mn 4,006 5,220 14,257
Sales margins, % 14.1 10.3 17.8
Accounts receivable, BYR mn 13,661 14,239 2,357
Accounts payable, BYR mn 7,120 5,496 14,900
Average wages, BYR mn 1,177.9 1,421.7 1,796.2
(6M 2011)

18. MINSK MARGARINE PLANT
Production
PRODUCTS, TONS 2008 2009 2010 6M 2011
Margarine 5,630 6,995 8,454 4,669
Mayonnaise 6,658 6,278 5,597 3,059
Packed vegetable oil 2,985 1,926 2,714 2,045
Unpacked vegetable oil 7 182 2,506 n/a
Ketchup 286 523 427 n/a
Horseradish 37 92 65 n/a
Mustard 10 74 64 n/a
Strengths of the Company
KEY ADVANTAGES The Company`s activities are
certified for compliance with:
an advantageous location in the center of Minsk
STB ISO 9001-2009 since 2006
highly-qualified staff HACCP in the production of
mayonnaise products since 2010
natural high-quality products
20% market share for margarine products, 10% -
for mayonnaise products
Sales
Sales structure, %
100 1 1.8 3.7
80 The Company mainly operates on
the domestic market, but is
60
99 98.2 96.3 increasing its sales abroad. Main
40 consumers of the products are
20 state and private enterprises of
0 trade and industrial processing.
2009 2010 6 months of 2011
Domestic market Foreign market
Address: Bersona str. 14, 220050, Minsk, Republic of Belarus
Tel. +375 17 222 68 41, GSM: +375 29 996 06 23
kd@economy.gov.by