BTA Bank to finance Standard Cement factory’s second production line construction project in the Southern Kazakhstan21.10.2013 12:55:34
Almaty, October 21, 2013 - BTA Bank JSC (the Bank) will act as the main creditor of Standard Cement factory's second production line construction project in the Southern Kazakhstan. Loan funds of the Bank will be aimed to acquire equipment for producing cement by dry process. Construction and assembling works under the project will be performed at the borrower's own expense.
Financing of the project is to be made under the international revolving committed trade finance facility (RCTFF) where The Royal Bank of Scotland PLC being the first-tier European bank acts as the Agent.
Estimated capacity of the production line will comprise 1 mln tons of cement per year. Equipment supplier is Tianjin Cement Industry Research and Design Institute of People's Republic of China.
Mr. Bauyrzhan Seitzhanov, Director of Standard Cement LLP commented: "Construction of the second production line at our enterprise would enable not only increasing high-quality cement production volumes without any environmental damage, but also ensuring creation of additional job places and increase tax proceeds to the region budget. Construction of this line is performed according to a new technology with compliance with all fixed standards and focused on creating environmentally safe production".
In his turn, Mr. Kadyrzhan Damitov, the Chairman of the Management Board of the Bank noted: "Owing to the revolving committed trade finance facility from foreign creditors, BTA Bank is able to provide financing to Standard Cement LLP on highly beneficial conditions. This is the first large transaction to be financed by means of foreign investors' funds in the BTA's post-restructuring period. We are glad to take part in realization of this project which is important both for economic and social spheres of the region. Mutually beneficial cooperation of BTA Bank and Standard Cement LLP will enable expanding production capacities of producing domestic cement, which, as we are looking forward, will promote realization of instructions of the Leader of the nation on increasing Kazakhstan content in final products".
Standard Cement LLP Profile
Standard Cement factory is one of the largest and capital-intensive projects in the Southern Kazakhstan. Its main type of activity is production and realization of cement. Estimated capacity of the factory is 1 mln tons of cement of М400 and М500 marks per year.
Construction of factory was made under the state forced industrial and innovational development program of the Republic of Kazakhstan for 2010-2014. Founder of the enterprise is Ontustik Financial and Trade Industrial Corporation LLP.
Production process of the enterprise is notable for its low expenditure on energy resources, which enables significantly decreasing the cost of the final products. Application of new production technologies with use of dust exhausters guarantees absolute safety for environment and enables the enterprise to be considered as clean production, corresponding to all up-to-date quality and safety standards. See detailed information on Standard Cement LLP on website http://standart-cement.com