Subsidiary Bank Sberbank of Russia provides KZT3.8 bn in funds to STYNERGY

14.10.16 12:01
/KASE, October 14, 2016/ – Subsidiary Bank Sberbank of Russia (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release: quote SB Sberbank JSC has approved the financing limit of STYNERGY LLP for the amount of KZT 3,8 billion. The appropriated funds will be allocated for working capital financing of the enterprise and investment purposes. The tranche is planned to be used until the end of 2016. "STYNERGY is one of leading enterprises in own segment. At the same time, the company procures 80% of raw materials for production from Kazakhstan suppliers. We are sure that our support will open for our client new opportunities for business development", Yeldar Tenizbayev, Deputy Chairman of the Management Board of SB Sberbank JSC, said. STYNERGY enterprise takes the fifth part of the competitive Kazakhstan market for rental of thin-sheet coil steel with coverage. And also in production and sale of roofing and facade systems, profiled flooring, strip, construction profile and sandwich panels. The company takes active part in construction of Expo-2017 facilities. unquote [2016-10-14]