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New ferroalloy plant to be launched in Kazakhstan via support of dev't bank

Business Materials 22 December 2020 11:12 (UTC +04:00)

BAKU, Azerbaijan, Dec. 22

By Nargiz Sadikhova - Trend:

Kazakhstan Development Bank (DBK) opened a credit line to Kazakhstan’s Qaz Carbon LLP for the construction of a new ferroalloy plant with a sinter producing unit, Trend reports citing DBK.

The total cost of the project is 36.8 billion tenge ($87.6 million), 29.6 billion tenge ($70.4 million) of which will be funded by DBK. Kazakhstan’s KazakhExport Export Insurance Company also supported the project through loan insurance in the amount of 11.5 billion tenge ($27.3 million), taking into consideration the fact that the project is export-oriented.

The Bank's financial resources will be used for construction and installation work and the purchase of high-tech equipment.

The production capacity of the ferroalloy plant will be 57,000 tons of ferroalloys and 240,000 tons of sinter per year. At the moment, the construction of the aforementioned facilities has already begun.

The manufactured products that meet the highest world quality requirements will be completely export-oriented. The US, Europe, Japan, Korea, Turkey, and the CIS countries will be the main export directions.

Global technological developments are to be used during the plant’s construction, and the latest equipment that meets all the parameters of the Industry 4.0 Program for technological modernization of the economy and digitalization of industry will also be installed at the plant. The production process will be fully automated.

DBK is a national development institute for the modernization and development of non-resource and infrastructure sectors of the economy of Kazakhstan, established in 2001.

Qaz Carbon LLP is a company producing coke for ferroalloy plants, as well as steel and iron casting. The production enterprise was established in 2017 in Karaganda.

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Follow the author on Twitter: @nargiz_sadikh

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