BTA Bank (Kazakhstan) and Export-Import bank of China sign credit agreement of financing of construction of cement plant in South Kazakhstan

/KASE, October 31, 08/ - BTA Bank (Almaty) securities of which are traded in the official list of Kazakhstan Stock Exchange (KASE) provided the press release: Quotation start In Astana Chairman of Board of BTA Bank Roman Solodchenko and Head of Export-Import Bank of China Lee Ruogu signed a Credit agreement on financing construction of a cement plant in South Kazakhstan. Funds in the amount of USD43.680 m. are provided to Standard Cement LLP on favorable conditions, which is relevant at the current time amid increased funding costs. Production capacity of the plant, which will produce Portland cement by a less energy consuming method will total 1,000,000 tons a year. The project has been recognized as a strategically important for Kazakhstan economy, as it will allow for meeting requirements of South Kazakhstan and exporting production to Central Asia countries. Cement plant construction in South Kazakhstan is the first Kazakhstan project, which has been approved within the China government concessionary credit program for SCO members. Signing a Credit agreement has become an important step in development of mutually beneficial trade and economical cooperation between the Republic of Kazakhstan and China. Meanwhile, this project has become the second for BTA Bank within the SCO program. Thus, in August 2007 BTA acted as a guarantor before Export-Import Bank of China on the credit granted to CJSC South Kyrgyz Cement for a long term. A leader of trade financing BTA is constantly diversifying investor base and enlarges its product line thanks to which the bank is capable to organize financing for its clients on competitive conditions. Contact Mass Media: Adyl Dossymov, BTA Bank Press Secretary 8 (727) 266 47 97, e-mail: dosymov@bta.kz Quotation end [2008-10-31]