Development Bank of Kazakhstan opens credit line for investment project to build new oil extraction plant

15.09.21 10:25
/KASE, September 15, 2021/ – Development Bank of Kazakhstan JSC (Nur- Sultan, bonds, KASE official list), has provided KASE with the following press release dated September 15, 2021: Development Bank of Kazakhstan JSC (a subsidiary of Baiterek National Management Holding JSC, hereinafter referred to as the Bank, DBK) has opened a credit line for the implementation of the investment project of Maslo-Del Petropavlovsk LLP for the construction of a new oil extraction plant with a processing capacity of oilseeds up to 1,200 tons per day. The launch of a new extraction plant will significantly increase the processing of oilseeds, the production of vegetable oil, in particular flaxseed and rapeseed oil, as well as feed for cattle (seed cake). When reaching 100% design capacity, the company plans to process 180-300 thousand tons of oilseeds per year, which is 7.6-12.7% of the annual gross harvest of oilseeds. The project is completely export-oriented, the main direction for the sale of vegetable oil will be China, and for the export of feed - Europe, Russia and China. Representatives of Maslo-Del Petropavlovsk LLP plan to put the plant into operation in 2023; construction work will be carried out on the territory of the existing own grain storage with a total capacity of 58 thousand tons of simultaneous storage of oilseeds - [2021-09-15]