BAKU, Azerbaijan, September 15
By Nargiz Sadikhova - Trend:
Development Bank of Kazakhstan JSC (DBK) has extended a credit line to implement the investment project of Maslo-Del Petropavlovsk LLP for the construction of a new vegetable oil plant, Trend reports citing DBK.
Upon achieving 100 percent of its design capacity, the company plans to process 180,000-300,000 tons of oilseeds per year, which amounts to 7.6-12.7 percent of the annual gross yield of oilseeds.
The manufactured products will be exported to Europe, Russia and China. The plant is to be put into operation in 2023. Construction will be carried out on the territory of the existing granary with a total capacity of 58,000 tons of lump storage of oilseeds.
The overall cost of the project totals 15 billion tenge ($35.2 million. The project is implemented as part of the “Business Road Map 2025” and the State Program of Industrial and Innovative Development of the Republic of Kazakhstan for 2015-2019.
Plant launch will provide additional 217 jobs, as well as increase production and export volumes to 300,000 tons per year, which will increase the level of processing in the region from 30 percent to 60 percent.
Development Bank of Kazakhstan JSC (DBK) is the national development institution for the modernization and development of non-raw-materials and infrastructure sectors of the economy in Kazakhstan, established in 2001. The major activities: develop industrial infrastructure and manufacturing industry, promote, and attract foreign and domestic investment in the national economy.
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