Development Bank of Kazakhstan opened line of credit to Qaz Carbon LLP (Kaz Carbon) for construction of new ferroalloy plant with sinter plant in Karagandy

22.12.20 12:25
/KASE, December 22, 2020/ – Development Bank of Kazakhstan (Nur-Sultan), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated December 22, 2020: quote Development Bank of Kazakhstan JSC (a subsidiary of Baiterek National Management Holding JSC, hereinafter referred to as the Bank, DBK) opened a credit line to Qaz Carbon LLP (Kaz Carbon) (hereinafter referred to as the Borrower) for the construction of a new ferroalloy plant with a sinter plant. The project complies with the conditions of the State Program for Industrial and Innovative Development 2015-2019 and is included in the regional business support map "Business Road Map 2025". The total cost of the project is 36.8 billion tenge, the share of the Borrower's participation - 7.2 billion tenge, the amount of financing from the Bank is 29.6 billion tenge. At the same time, taking into account the export orientation of the project, Qaz Carbon LLP also received support from the Export Insurance Company "KazakhExport" JSC through loan insurance in the amount of 11.5 billion tenge, which is an indicator of the successful synergy of the country's two financial institutions (subsidiaries of Baiterek National Management Holding JSC). The production capacity of the ferroalloy plant will be 57 thousand tons of ferroalloys and 240 thousand tons of sinter per year. At the moment, the construction of the aforementioned facilities has already begun. unquote The complete press release is available on – https://kase.kz/files/emitters/BRKZ/brkz_reliz_221220_1.pdf [2020-12-22]