BAKU, Azerbaijan, Nov. 30
By Nargiz Sadikhova - Trend:
The preliminary 2021 pipeline of mining and metallurgical industry (MMC) projects supported by Development Bank of Kazakhstan (DBK) consists of 5 projects with a total amount of financing of 1 billion tenge ($2.3 million), Chairman of the Management Board of DBK, Abay Sarkulov said, Trend reports.
Sarkulov said that the largest share in the DBK loan portfolio accounts for projects of the mining and metallurgical industry – 33 percent, since the industry has a good socio-economic effect: job creation, export orientation and tax deductions.
Thus, DBK approved and opened financing for two investment projects with a total cost of 25.4 billion tenge ($60 million) in 2020.
“A bright project of innovative production in the field of MMC was financed - a factory for coal enrichment and modernization of the existing foundry of Qaz Carbon LLP in Karaganda. The product line includes 939 product names. The total cost of the project is 12 billion tenge, DBK opened a credit line in the amount of 9.2 billion tenge ($21.7 million) for a period of 7 years,” Sarkulov said.
The second project, he said, is the modernization and reconstruction of the existing facilities for the production of zinc products of Kazzinc LLP.
“The amount of the DBK loan was 10 billion tenge ($236.4 million). Funding was directed to the modernization of industrial facilities, which have been in operation since the 1950s and 1960s, in order to maintain existing capacities and expand the production program,” the report said.