EDB to finance project of Kazakh company

According to the signed documents the bank is to give the company a loan to the amount of USD 48.7 mln for up to 10 years.

Within the framework of the project it is planned to construct and launch a new production which is to include full circle from the extraction and the enrichment of ore to the production of metallic tin. The complex will use the ore from the only in Kazakhstan and the largest in Central Asia tin minefield Syrymbet. The equipment will be acquired in Russia, Kazakhstan and foreign countries.

The production is expected to be put into operation in two year span of time. The expected capacity of it is 6 thousand tons of metallic tin a year. The total cost of the project is over USD 70 mln.

The project is implemented within the State Program of Forced Industrial-Innovative Development of Kazakhstan for 2010-2014. Its realization will allow establishing new subsector of nonferrous metallurgy.

According to the EBRD, the realization of the projects will create about 3.5 thousand jobs in Kazakhstan and Russia in the nearest future.