Development Bank of Kazakhstan JSC (DBK, Bank) will support a project to produce refined vegetable oil in the Abai region. The agreement on opening a credit line was signed by DBK and QAZAQ-ASTYQ GROUP.
It is planned to reach production capacity by 2027. By this time, the plant will produce 15.4 thousand bottles of sunflower oil per year with a volume of 1 liter and 7.2 thousand bottles with a volume of 5 liters. In addition to the domestic market, the products will also be exported to China and Uzbekistan.
"The Bank's support for this project will help strengthen the food security of Kazakhstan by increasing domestic production of the demanded product and reducing its imports from abroad, and, at the same time, increase exports of processed products to foreign markets. Investments in projects in the agro-industrial complex are one of the key priorities of the DBK," comments Nurlan Baybazarov, Chairman of the Management Board of the Development Bank of Kazakhstan.
It should be noted that QAZAQ-ASTYQ GROUP has been working in the oil production market since 2018 and has already applied to DBK for support in the supply of its products abroad in 2021. Thanks to the Bank's export financing, the company was able to purchase raw materials to produce products with subsequent export delivery.
Public Relations Service of Development Bank of Kazakhstan JSC:
Telephone: 8 (7172) 79 26 08
Website: www.kdb.kz
E-mail: pressa@kdb.kz
