By 2013 in Kazakhstan number of new modernized foundries - DBK - Leasing JCS

/IRBIS, December 1, 2011/ - Under the "Performance 2020" program JSC "DBK - Leasing", a subsidiary of JSC "Kazakhstan Development Bank", has a number of projects on modernization of foundries, the press - service of company reported. As noted in the message of "DBK - Leasing", Kazakh projects to develop and modernize the foundries have a significant investment appeal. The most promising areas are the production of steel products and spare parts for imported equipment and farm machinery. "In the framework of "Performance" JSC "DBK - Leasing" now has number of projects on modernization of foundries. Kazakhstan has sufficient raw materials for the production of iron and steel castings. Annually 3 - 5 million tons of ferrous scrap metals, of which the export is 50%. The development of the foundry industry will recycle scrap metal in Kazakhstan, and will reduce its export abroad at low prices", - the director of Project and industry analysis of JSC "DBK - Leasing" Baurzhan Erezhepov said. "Today in the republic there are about 25 foundries, of which only three have moved to modern casting technology. Production in the industry in 2010 reached more than 376 billion tenge, while the share of investment was only half a percent of that figure. Because of the low quality of products Kazakhstan exports mainly scrap metal in primary forms, and vice versa already imports more goods of high added value. The share of imports of foundry production in some sectors is as high as 90%", - was stated in the message. According to the JSC "DBK - Leasing" in 2013 in Kazakhstan number of new modernized foundries will start operating. However, it is noted that this only partially covers the needs of the market. With broader technical re-equipment, the company noted that Kazakhstan has a chance to provide own casting products both to the domestic market, and neighboring countries. JSC "DBK - Leasing" is a 100% owned subsidiary of JSC "Development Bank of Kazakhstan." State Leasing Company JSC "DBK - Leasing" provides leasing financing for medium and large investment projects for development of industrial infrastructure and manufacturing industries. [2011-12-01]