Development Bank of Kazakhstan financed the construction of new ferroalloy plant in Pavlodar region

08.12.21 15:43
/KASE, December 8, 2021/ – 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 8, 2021: quote EkibastuzFerroAlloys LLP attracted financing from Development Bank of Kazakhstan JSC (a subsidiary of Baiterek National Management Holding JSC, hereinafter referred to as the Bank, DBK) for the construction of a new ferrosilicon plant in Pavlodar region. The total project cost is 92.2 billion tenge, of which - the DBK credit line was opened in the amount of 72 billion tenge, the share of own participation of investors is more than 20 billion tenge. The project provides for the construction of a modern plant with 4 furnaces, 94.5 MVA each, with a maximum production capacity of 240,000 tons of high-quality ferrosilicon per year. The new fully automated plant is slated to launch in 2023 to meet global demand for ferrosilicon. The plans of the company EkibastuzFerroAlloys LLP to sell products in the markets of Europe, Southeast Asia, North and South America. Relevant agreements and off-take contracts for the sale of finished products have already been signed. According to preliminary estimates, the value of exports will amount to 76 billion tenge per year. unquote The complete press release is available on – [2021-12-08]