JSC Development Bank of Kazakhstan (a subsidiary of the Baiterek holding, hereinafter – DBK, the Bank) is financing the construction of a sodium cyanide production plant in the Khimprom Taraz Special Economic Zone.
The investment project, aimed at developing Kazakhstan’s chemical and manufacturing industries, is being implemented by Altynalmas Reagents LLP.
The plant will be located in the Zhambyl region. According to the plan, it will produce 25,000 tonnes of sodium cyanide annually.
In September last year, the Bank and the LLP signed an agreement to provide a credit line, and in May this year financing for the project was opened.
The total amount of DBK funding is EUR 98.8 million, which accounts for 75% of the project cost. The loan funds will be used for design, procurement of materials and core equipment, as well as construction, installation and commissioning works.
The project will fully meet the demand of the domestic market, while also being export-oriented, targeting the markets of Uzbekistan, Kyrgyzstan, Tajikistan and Mongolia. Moreover, its implementation will stimulate the development of Kazakhstan’s processing and chemical industries (including a 50% increase in the domestic market for ammonia and caustic soda).
The project will also create 108 permanent and 200 temporary jobs, and forecast annual tax contributions to the budget are expected to reach 500 million tenge.
The initiative will not only meet the growing demand from the mining industry of Kazakhstan and Central Asian countries, but also have a significant positive effect on the region’s economy, contributing to import substitution and strengthening the country’s export potential.
“Financing the construction of the Altynalmas Reagents LLP plant is not only an investment in the development of a single enterprise, but also a reinforcement of the entire value chain in Kazakhstan’s chemical industry and mining and metallurgical complex. Increasing the domestic production of critically important products aligns with our mission to promote import substitution and expand non-commodity exports,” – said Marat Yelibayev, Chairman of the Management Board of DBK.
Construction of the plant began recently, and the start of operations is scheduled for March 2027.
