BAKU, Azerbaijan, Dec. 9
Ekibastuz FerroAlloys LLP attracted financing from Development Bank of Kazakhstan JSC (DBK) for the construction of a new ferrosilicon plant in Pavlodar region, Trend reports with reference to the Development Bank of Kazakhstan JSC.
According to the information, the total cost of the project is 92.2 billion tenge ($211.3 million), of which the DBK's credit line has been opened in the amount of 72 billion tenge ($165 million), the share of investors' own participation is more than 20 billion tenge ($45.8 million).
The project provides for the construction of a modern plant with four furnaces of 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. Ekibastuz FerroAlloys LLP plans 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 ($174.2 million) per year.