Subsidiary Bank Sberbank of Russia provides KZT1.85 bn to Alina Group
21.09.16 11:55
/KASE, September 21, 2016/ – Subsidiary Bank Sberbank of Russia (Almaty),
whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has
provided KASE with the following press release:
quote
SB Sberbank has allocated a KZT1.85 bn credit limit to Alina group of
companies.
The funds obtained will be used to replenish the working capital of the company.
The credit line is part of a United program "Business Road Map 2020". The
company has already started using the funds under this line.
"The complete production cycle companies of Kazakhstan – from production to
delivery of finished products to local consumers – are a strong pillar of the
country's economy. Furthermore, Alina is the made-in-Kazakhstan brand in the
neighboring countries. So it's not just about the import substitution but also
about a competitive export potential," Yeldar Tenizbayev, Deputy Chairman of
the Management Board of SB Sberbank, said.
Alina group of companies is the Kazakhstan's largest manufacturer and a
distributor of building and finishing materials, including paints, industrial
gypsum, calcite and marble chips. The company represents 60% of the local dry
building mixes market and 28% of the local paints and varnishes market.
unquote
[2016-09-21]