Belarus's Oldest State-owned Construction Company Has Filed For Bankruptcy

• 22.08.2026, 11:27

The organization has been in operation for nearly 60 years.

Back in May, the Economic Court of the Gomel Region opened bankruptcy proceedings against OJSC “Construction Trust No. 14.” At that time, two creditors—to whom the construction company owed just over 1.6 million rubles—filed claims with the court. However, since then, the number of claims has increased significantly, and the construction trust’s debt subject to collection has exceeded 52 million rubles. These documents have been published on the EGRSB website, as noted by the website officelife.by.

“Construction Trust No. 14” is a state-owned organization that has been engaged in construction in the region and beyond since 1967. As recently as 2023, the company employed about 900 people.

It built residential buildings, kindergartens, schools, and hospitals. The trust’s portfolio includes such major projects as the Regional Drama Theater, the Gomel Circus, the Athletics Palace, the “Gomel” and “Tourist” hotels, university buildings, movie theaters, the “Belorusneft” high-rise, and shopping centers.

It’s not entirely clear what went wrong. But as of early 2026, the construction trust had only about 100 employees on its payroll. And today, the company owes money to its employees, as well as significant sums in taxes and to the Social Security Fund, and primarily to various contractor companies. Moreover, its assets are valued at less than 30 million rubles, and it is clear that this will not be enough to pay off its debts.

Several of the trust’s buildings in Gomel are currently up for auction, along with a wide variety of equipment, passenger and freight vehicles, and more. A court hearing, at which the company—with a history spanning nearly 60 years—will most likely be declared bankrupt and sent into liquidation, is scheduled for September 11.