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SEC Yertis spent first allotments on agro projects

ASTANA. June 1. KAZINFORM The Yertis National Social Enterpreneurship Corporation has executed the first fund allotments on two joint projects with the farmings of East Kazakhstan; the SECТs press service said. Karlygash LLP has received KZT 15 mln for implementation of the project of meat procession, storage and sale. Early May, 2009 SEC Yertis and Karlygash LLP entered into a partnership agreement as per which the parties are obliged to unite their contributions. SEC Yertis contributes KZT 54 mln of circulating assets and KZT 105 mln for completion of the workshop construction and procurement of equipment. Contribution of Karlygash LLP consists of labor services as well as permanent and current assets of the company. The Suleken farm received KZT 13 mln for implementation of a cattle breeding and selection project which costs KZT 41.944 mln. SEC Yertis and the Suleken farm have also signed a partnership agreement. May 26, 2009 both projects were discussed at the first session of the Board of SEC Yertis. Chairman of the Board Yermek Kosherbayev noted that such projects should be considered as support of national agriculture by the domestic manufacturer. The two projects are expected to create 95,000 jobs in East Kazakhstan.


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