Baku, Azerbaijan, June 17
By Nargiz Sadikhova - Trend:
Development Bank of Kazakhstan opened a credit line in the amount of $600 million for the expansion project of Aktogay Mining and Processing Plant, a subsidiary of KAZ Minerals Aktogay LLP, located in the East Kazakhstan region of the country, Trend reports referring to press office of the Bank.
The credit line was opened for the period of 15 years.
“Taking into account the first loan in the amount of $300 million issued in December 2016, the total amount of financing of KAZ Minerals Aktogay LLP by the Bank reached $900 million, ” the report said.
“Aktogay expansion project (Aktogay II) includes the construction of a second sulphide ore processing plant and related infrastructure, the total value of which equals to $1.2 billion,” the press office said.
“After commissioning of the Aktogay II project, the sulphide ore processing capacity at Aktogay will increase from 25 to 50 million tons per year. Average annual copper production from sulphide ore will increase by 80,000 tons to 170,000 tons from 2022 to 2027 and by 60,000 tons to 130,000 tons in the following years,” reads the message.
“China is the main sales market for production from Aktogay,” the report said.
(1USD = 383.84 KTZ on June 17)
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