/KASE, May 7, 12/ - JSC "Development Bank of Kazakhstan" (Astana), whose bonds are officially listed at Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of May 4, 2012:

quote

The company producing items of cell concrete has made an early complete repayment of the loan debt.

JSC "Ekoton+" has borrowed from JSC "Development Bank of Kazakhstan" (DBK, or the Bank) since 2003. The Bank had financed a project of production of wall materials of cell concrete in Astana (Project).

The plant of "Ekoton+" was commissioned in 2004. The overall cost of the Project made up USD12.76 m, with DBK contributing USD6.04 m.

In 2009 the Bank restructured the "Ekoton+" loan. The measures to reduce the debt burden on the Project were implemented for the purpose of supporting the Company in the crisis period. In particular, the interest rate was reduced and the repayment schedule was changed.

Today, the enterprise produces 127,000 м3 of ready output. The plant is the largest producer of cell gas-concrete taking up a quarter of Kazakhstan's.

Main customers of the plant's produce are in Akmola, Karagandy, Aktobe and West-Kazakhstan regions. Besides, part of produce is exported to Russia.

unquote

[2012-05-07]