/KASE, August 29, 2019/ – Subsidiary Bank Sberbank of Russia (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release of August 29, 2019:

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Sberbank Kazakhstan financed the project of Kvant LLP specializing in the production and wholesale and retail sale of upholstered and cabinet furniture, as well as sale of household appliances and electronics. The large-scale project includes the construction of an additional workshop for a furniture factory, acquisition of additional equipment for the production of furniture and trucks. The total cost of the investment project is 1.5 billion tenge.

"The main objectives of our project are the construction of a second workshop for a furniture factory, acquisition of an automatic painting line for furniture parts made of MDF, solid wood and other wood-based materials. We also decided to purchase specialized equipment for the production of frame facades and automatic boring machine that does not require reconfiguration for each part, which means that it can work in line mode without the intervention of technical staff. Successful implementation of this project will allow our company to significantly expand the range of products, as well as bring it to new markets", - Mikhail Pshenichniy, Director of Kvant LLP, shared his opinion.

The investment project was approved as part of the DBK Interbank Lending Program for lending to large enterprises in the manufacturing industry with the attraction of funds from the National Fund of the Republic of Kazakhstan.

"Sberbank Kazakhstan is interested in the stable development of the country's economy and is always ready to provide support to domestic producers. Such investment projects are aimed both at supporting the technical development of Kazakhstan companies, as well as creating new permanent work places, expanding the range and improving the quality of products. Such support will undoubtedly allow increasing the competitiveness of domestic manufacturers in the international market", - Yeldar Tenizbayev, First Deputy Chairman of the Management Board of SB Sberbank JSC, said.

Today, the products of Kvant LLP are successfully sold in Kazakhstan. In addition, the company successfully cooperates with customers from Russia, Germany, Kyrgyzstan, Italy, Tajikistan, Armenia and Sweden.

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[2019-08-29]