/KASE, December 9, 2024/ – Development Bank of Kazakhstan KSC (KASE ticker – BRKZ) has announced the following:

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December 6, 2024

The key player in the corn processing market in Almaty region Zharkent Starch Plant LLP is one of the largest enterprises in Central Asia, specializing in the production of high-quality corn starch, molasses and glucose-fructose syrups. The plant's products are in demand both in the domestic market and abroad: about 45% of the produced volume is exported to Turkey, Uzbekistan, China, Russia, Tajikistan and Kyrgyzstan.

In order to develop exports and expand the range of products, ZhSP attracted credit funds from Development Bank of Kazakhstan JSC in the amount of KZT 2.5 bln. With the allocated funds, the enterprise plans to increase the share of exports up to 50%.

The plant, where about 300 highly qualified specialists work, is equipped with modern equipment, which allows to produce products with unique characteristics. For example, the starch molasses produced at the plant has low viscosity and color, thanks to innovative processing methods without the use of synthetic additives. The products are environmentally friendly and are in demand in the food, confectionery, textile, paper and building materials industries.

DBK financing is aimed at stimulating non-resource exports and the development of Kazakhstan's food industry.

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The complete press release is available on – see more

[2024-12-09]