Development Bank of Kazakhstan JSC informs of financing the system projects in the textile cluster in Southern Kazakhstan

/KASE, February 15, 07/ - Development Bank of Kazakhstan JSC (Astana), bonds of which are traded in the official list of Kazakhstan stock exchange (KASE) under "A" category, has spread today the press release, saying: Quotation start As the media informed, the working tour of the Prime Minster of the Republic of Kazakhstan Karim Massimov to Southern Kazakhstan oblast took place on February 14. There were introduced the production of the textile cluster in area of the south economic zone "Ontustik". Mellange JSC restarted the manufacture of cotton fabrics and ready-made garments, with the deepest in Kazakhstan level of cotton procession (4 levels), which allows to produce the broad range of ready-made fabrics. Launching of the manufacture was possible owing to financing of the Bank of development of Kazakhstan - the biggest Institute of development in the Fund of reserves mnagement "Kazyna". The first fundamental block in construction of cotton cluster in Southern Kazakhstan oblast is the project of Utex JSC for production of thread from Balsam Wool. The project encloses the creation of the full producing cycle, starting from manufacture of Balsam Wool at the running cotton-cleaning plant and finalizing with output of cotton thread. The amount of the project is $19.3 m. with volume of the credit for a total of $13.1 m. Following clusters-forming projects became investment projects of the mentioned Mellange JSC (the amount of the project is $40.5 m., including $34.4 m. of the Bank's credit) and Nimex textile LLP, producing natural and synthetic clothes, ready-made garments (the amount of the project is 20.11 m. euros, including 13.11 m. of euro credit of the Bank). For today the manufacture of ready-made cotton-knitted garments of Utex JSC, which has been financed by the bank, is being put in operation with an amount of the project of $5.1 m., including the credit of the bank at $5.0 m. In all, accomplishment of the mentioned projects will allow to create over thousand of work seats. Besides, other broad-scale system projects are being financed in Southern region. The total amount of financing by BDK by data of projects is $87.3 m. Moreover, the daughter company of BDK is operating in Southern region within frameworks of textile cluster - BDK-leasing with the part-taking amount at $7.2 m. Quotation end [2007-02-15]