BAKU, Azerbaijan, Mar. 26
By Nargiz Sadikhova - Trend:
QAZAQ-ASTYQ GROUP LLP sunflower oil producing plant will be constructed in East Kazakhstan region before the end of 2021, Trend reports citing Development Bank of Kazakhstan.
The goods manufactured at the plant will be further exported to destinations China, Uzbekistan, Tajikistan, Iran, India, Pakistan, Afghanistan, Turkey and the European Union countries.
Construction of the new plant began in March 2019, with a raw material processing capacity of 1000 tons per day for sunflower seeds or 800 tons for rapeseed or flax seeds.
The new plant is a comprehensive approach to the full cycle of its own production, which guarantees the company a competitive advantage.
Due to high automation of production it was decided to invite experienced specialists from Ukraine, the world leader in the production of plant oils, to key management positions in order to ensure the quality of finished products.
More than 90 percent of the finished products of the oil extraction plant are to be exported. Negotiations with potential partners are already under way to conclude contracts for the supply of Kazakh vegetable oil to China, Uzbekistan and European Union countries. Company’s long-term plans additionally set up re-production of raw materials for production of unrefined hydrated oil, phosphatide concentrate, meal, which have great export potential and are widely used in animal husbandry and can be exported to such countries as Uzbekistan, Iran, India, Pakistan and other countries.
QAZAQ-ASTYQ GROUP LLP has attracted financing from Development Bank of Kazakhstan JSC (DBK) to provide export supplies of vegetable oil to foreign markets.
DBK loan amounted to 4.4 billion tenge ($10.4 million). The export operation was financed under the Nurly Zhol state program of infrastructure development for 2015-2019 to support Kazakhstan's exports of goods in the manufacturing industry.
The total cost of Qazaq-Astyq Group LLP project for construction and launch of oil extraction plant amounted to 12.5 billion tenge ($29.6 million).
Qazaq-Astyq Group LLP was also supported by KazakhExport Export Insurance Company through a 4.4 billion tenge ($10.4 million) loan insurance.
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