/KASE, October 16, 2020/ – Development Bank of Kazakhstan (Nur-Sultan), whose
bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided the
following press release dated October 15, 2020 to KASE:
quote
In Almaty, with the participation of the Prime Minister of the Republic of
Kazakhstan Askar Mamin, the Hyundai Trans Kazakhstan plant for the production of
Hyundai cars was launched. Minister of Trade, Industry and Energy of the Republic
of Korea Song Yoon Mo, Minister of Industry and Infrastructure Development of the
Republic of Kazakhstan Beibut Atamkulov, Presidents of Hyundai Motor Company Lee
Won Hee and Astana Group Nurlan Smagulov, also Chairman of the Board of Development
Bank of Kazakhstan JSC Abay Sarkulov, Chairman of the Board of Industrial
Development Fund JSC Nurlan Baibazarov and Deputy Chairman of the Board of DBK
Duman Aubakirov took part in the opening ceremony of the plant in the format of
a teleconference.
In March of this year, JSC ”Development Bank of Kazakhstan” (a subsidiary of JSC
"national managing holding "Baiterek", hereinafter referred to as DBK, Bank)
opened a credit line to LLP “Hyundai Trans Kazakhstan” (hereinafter referred to
as the Borrower, a subsidiary of Astana Motors) for the construction of a plant
for the production of Hyundai cars. The plant was built within the framework of
the State Program for Industrial and Innovative Development of the Republic of
Kazakhstan. The total investment in the construction of the plant is more than
28 billion tenge, DBK will provide a loan in the amount of 12.8 billion tenge
for a period of 15 years. The project is also financed by the Bank's subsidiary,
JSC “Industrial Development Fund”, in the amount of 7.4 billion tenge. The rest
of the required investment will be provided by the Borrower.
unquote
Full press release is available on KASE website (in Russian) –
https://kase.kz/files/emitters/BRKZ/brkz_reliz_151020_1.pdf
[2020-10-16]