/KASE, January 21, 2020/ – Development Bank of Kazakhstan (Nur-Sultan), whose
bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided
the following press release dated January 21, 2020 to KASE:
quote
Development Bank of Kazakhstan JSC (a subsidiary of National Managing Holding
Baiterek JSC, hereinafter - the Bank, DBK) opened a credit line to "Shymkent
chemical company" LLP (hereinafter - the Company, ShChC) for the construction
of a new plant for the production of methyl-tert-butyl ether (MTBE) in Shymkent
(hereinafter – the Project). The Project cost is 13.7 billion tenge, DBK provides
a loan of KZT 9 billion for up to 10 years, the remaining part of KZT 4.7 billion
will be invested by the Company at its own expense.
The project is implemented within the framework of the State program of industrial
and innovative development of the Republic of Kazakhstan.
The financing provided by the Bank will be used for the design, construction and
installation of the plant, as well as the purchase of equipment.
The goal of the project is to develop the petrochemical industry in Kazakhstan
by increasing the depth of processing of petrochemical raw materials (butane-
butylene fraction obtained during processing at Shymkent oil refinery (hereinafter
- SHOR) as part of its modernization. Further processing of the butane-butylene
fraction at the ShChC plant will allow to organize the production of methyl-tert
butyl ether, which will be used by the SHOR for the production of high-octane
gasoline of environmental classes K4 and K5.
unquote
Full press release is available on KASE website (in Russian) –
http://kase.kz/files/emitters/BRKZ/brkz_reliz_210120_1.pdf
[2020-01-21]