"Development Bank of Kazakhstan" JSC (a subsidiary of "National managing holding" Baiterek" JSC, hereinafter - the Bank, DBK) commenced a revolving credit line of "Kainar-AKB" LLP in the amount of 2 billion tenge for up to three years for the purchase of raw materials for the production of starter batteries with further export of products. Pre-export financing was provided within the framework of the "Nurly Zhol" state program.
"Kaynar-AKB" LLP owns a lead-acid car batteries manufacturing plant located in Taldykorgan city of Almaty region. The company annually produces about 2.5 million batteries, over 60% of which are exported to Russia, Azerbaijan, Kyrgyzstan, Uzbekistan, Belarus, Tajikistan, China and the UAE. The pre-export financing provided by the Bank will make the company to afford the increasing of supply of products to foreign markets by 2020 to 3 million batteries per year.
Battery plant in city of Taldykorgan has a full cycle of production - starting from casting of parts and components up to the assembly of end products. The company workshop operates for the disposal of batteries that run out their term, their recycling, and deep cleaning of lead with the subsequent production of various alloys, which ultimately become the raw material for the production of new batteries.
In August of previuos year, DBK announced a reduction in the financing rate within the framework of supporting Kazakhstan's non-oil exports under the "Nurly Zhol" Program. The final interest rate for borrowers dropped to no more than 8% from 9% per annum.
Conditions of pre-export financing within the framework:
- A revolving credit line is provided for the purpose of purchasing raw materials and materials for the production of end products with subsequent export;
- Target industry is the manufacturing industry;
- Availability of export contract (s);
- Loan term - from 1 year to 3 years, loan currency - tenge;
- The minimum loan amount is 1 billion tenge.
Legal entities interested in opening pre-export credit renewable lines can contact the DBK Directorate for customer by the following contact details: +7 7172 79 26 11 (Vladimir LI, Dinara RSKELDINA, Yerbol Salimbayev).
