Kazakh Investment Fund attracts strategic partner to launch Hantau cement plant
Astana, Kazakhstan, June 30
By Daniyar Mukhtarov - Trend:
"Kazakhstan Investment Fund" JSC has attracted a strategic partner for the launch of production at the Hantau cement plant, according to the press service of the "Baiterek" national holding.
"Yug Cement Stroi" LLP acted as the strategic partner which attracted credit in the amount of 5.35 billion tenge ($ 1 - 183.51 tenge) for seven years in the "Bank RBK" JSC and allocated to completing construction of the plant. At present, interim launch on the production of clinker which is the main raw material for cement is being implemented," the press service said.
The production capacity of the first line of the plant is designed for 1,200 tonnes of clinker per day. It is planned that in the autumn the company will launch a full cycle of cement production - 500, 000 tonnes per year. About 250 people will work at the plant.
Hantau cement plant is the leading enterprise of the cement industry in the south of Kazakhstan with the design capacity of 360,000 tonnes of clinker and 500,000 tonnes of portland cement of M400 and M500 class.
Cement production will be carried out on the base of latest "dry" method in the production line of Hengyuan International Engineering Group. The plant is located near the Zhambyl railway and developed motorway network that connects the company with other industrial centers of the country.
"The raw material base for the production of cement and other materials are the Hantau limestone deposit, Hantauskoe deposit of sand-gravel aggregate, Ulkensai clay deposit located in the immediate vicinity of the plant," the report said.
The products of the plant are widely used in the capital construction of residential, socio-cultural and industrial facilities during maintenance work, for supply to the commercial network as construction materials.
Recall that in 2007 "ACIG" JSC attracted $30 million to the "Development Bank of Kazakhstan" JSC to the construction of the cement plant in Zhambyl region. The enterprise was 85 percent constructed, but due to the lack of funds to complete the construction and commissioning of the project was frozen . In 2013, project was referred as problematic and was transferred from "Development Bank of Kazakhstan" JSC to "Kazakhstan Investment Fund" JSC for the recovery.
"Kazakhstan Investment Fund" JSC is a public development institution and management company in the field of restructuring and distressed asset management. The fund was established by government decree No.501 dated May 30, 2003.
Sole shareholder of "Kazakhstan Investment Fund" JSC is Baiterek national holding JSC. "Strategic objective of the fund is to increase the growth rate of return of public funds and investments, and as a result, recovery and improvement of activity efficiency of the national development institutions.
"Bank RBK" JSC is Kazakh universal financial institution having balanced development indicators. The bank has sufficient capital, upscale portfolios of assets and liabilities, adequate size of allowances, demonstrates sustainable profitability over a long period of time.
Edited by CN