Kazakhstan Development Bank JSC informed about repayment of its credit by Kazakhstan Kagazy JSC

/KASE, April 10, 07/ - Kazakhstan Development Bank JSC (Astana), bonds of which are traded in Kazakhstan stock exchange's (KASE) official "A" listing category, spread a press release, which says: Quotation start Kazakhstan Development Bank JSC has had a credit repaid, which was given to Kazakhstan Kagazy JSC for investment project "Production of paper, corrugated cardboard and paper-cardboard products for food industry". The project was implemented in Abay village of Karasay district of Almaty region. The combine construction for production of paper, cardboard and paper- cardboard products for food industry is the third project of Development Bank. The financing of Development Bank in this project totaled 10 million U.S. dollars. Thorough pre-project preparation, timely funding and efficient monitoring contributed to the successful project realization. In March 2002 the combine started producing its first production - cardboard and corrugated cardboard. At the beginning of 2006 Kazakhstan Kagazy accomplished the first step, which included construction of additional production and warehouse facilities on the territory of the acting plant with the total area of about 9 thousand square meters, including the new workshop for production of corrugated package, and raw materials and finished goods warehouse. As Maksat Arip, a general director of Kazakhstan Kagazy JSC, emphasized at the meeting in KDB, "Cooperation with KDB has become an important step in the company's development, allowing to attract required investments on the initial stage. Those were not simple times, but together we achieved the main goal - established a modern, largest in industry production. Now we can bravely say that the project has been implemented successfully and can develop all by itself. Active participation of employees of KDB, their professionalism in accomplishment of this project should also be noted. We express our thanks to KDB for mutually beneficial cooperation". Quotation end [2007-04-10]