Kazakhstan Kagazy JSC cancelled its credit
ASTANA. April 10. KAZINFORM. Kazakhstan Kagazy JSC has cancelled the credit given by the Kazakhstan Development Bank within the investment project Production of paper, corrugated board, paper and cardboard products for the food industry. The project was put into operation in Abai rural settlement, Almaty oblast, the Bank’s press service informs. Construction of the industrial complex for the production of paper, corrugated board, paper and cardboard products for the food industry was the third project of the Development Bank worth USD 10 mln. It started its work in March 2002. Early 2006 Kazakhstan Kagazy JSC has embarked on a new path including construction of extra production and storage houses on the territory of the plant up to 9 000 sq m, a new workshop for the corrugated packing production, raw material and end products warehouses. According to Kazakhstan Kagazy JSC director general Maksat Arip, the cooperation with the Kazakhstan Development Bank let the company attract the necessary start-up investments. We have created the modern and the largest production. We may say to date the project has been successfully realized and may develop by itself. We express gratitude to the Development Bank for the mutual benefit cooperation.