Development Bank of Kazakhstan announces funding project for construction of ore dressing plant in Karagandy region

20.10.17 17:13
/KASE, October 20, 2017/ – Development Bank of Kazakhstan (Astana), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release: quote Development Bank of Kazakhstan (subsidiary of National Managing Holding Baiterek, hereinafter – the Bank, DBK) provides a credit facility to Zhayremsky Gorno-Obogatitelny Kombinat (subsidiary of Kazzinc) for construction of a new ore dressing facility (ODF) in village Zhairem of Karagandy region with a processing capacity of 5 mln ton of complex ores a year (Project). The Project costs USD424 mln. DBK provides a 7-year KZT33 bn loan for the construction of the first stage of the ODF, estimated at USD352 mln. A respective loan agreement was signed between the parties on October 20 in Astana. The Project is funded under the Government Program of industrial and innovative development of the Republic of Kazakhstan for 2015-2019. unquote The full press release is available on KASE website – http://www.kase.kz/files/emitters/BRKZ/brkz_reliz_201017.pdf [2017-10-20]