Development Bank of Kazakhstan opens credit line for Shymkent Chemical Company for plant construction in Shymkent

21.01.20, 17:35
/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]