DBK financed export delivery of Kazakhstan phosphorus to the Czech Republic
ASTANA. KAZINFORM - Development Bank of Kazakhstan JSC provided a loan aimed at export delivery of products for up to 5 years to Kazphosphate LLP, the company's press service informs. Transaction of 3 billion tenge is financed to support Kazakh exporters within the "Nurly Zhol" New Economic Policy. The terms and conditions of financing were approved by the Government Decree No.271 as of April 23, 2015.
Concessionary borrowed funds will be used for procurement of energy resources, raw stock and further production and export of yellow phosphorus. Delivery contract within this export operation was signed with the large Czech company Fosfa a.s. specialized in production of syntetic washing agents, food-grade phosphates and phosphate mixtures.
"In the nearest five years our entity is planning to increase the volume of the main types of phosphorus raw stock export approximately up to one third and to get production of red phosphorus and phosphorus pentasulphide on track that will enable to create a greater variety of produced products with high added value. Financial support rendered by the state and Baiterek holding enables to get available long-term financing through the Development Bank of Kazakhstan that will facilitate the expansion of sales markets and solution of priority matters on development of entities in the chemical field of Kazakhstan", the Chairman of the Board of Kazphosphate LLP Maksutbek Yessenov noted.
The National Fund of the Republic of Kazakhstan allocated 35 billion tenge to Baiterek NMH JSC through the bank in 2015 to support export of the Kazakh goods produced in the processing industry. As of August 27, six projects at the aggregate amount of 31.2 billion tenge have been financed within the provided funds.
Kazphosphate LLP has been founded in October 1999. The entity is the only producer of phosphatic rock and phosphoric products in Kazakhstan and one of the largest producers of elemental phosphorus for chemical industry in the world. The entity has a full production cycle in place from processing and production of 20 various types of products to their shipment to the end consumers. Kazphosphate LLP products are sold in 27 countries of the world, including Kazakhstan, the CIS member states, Europe and the U.S. markets.