VTB Bank (Kazakhstan) has financed construction of house-building plant in Kokshetau city

08.07.2014 House-building plant «Region Stroy» LLP was launched on July 6, 2014 in Kokshetau city. This project was implemented within the framework of Industrialization map and was financed by VTB Bank (Kazakhstan).

The enterprise is focused on production of reinforced concrete products for precast house-building and will significantly reduce cost
of square meter of housing and accelerate timing and volume of construction.

Marlen Mukhamedzhanov, Director of the Branch of Subsidiary JSC VTB Bank (Kazakhstan) in Kokshetau city: «The project was approved under the program of subsidization of interest rate of «Damu» Entrepreneurship Development Fund – «Business Road Map 2020».
As you know, housing construction is one of priorities in social policy of Kazakhstan, and we are pleased that we have contributed to implementation of this industrial project that will allow to execute full import substitution, and build housing with 100% of Kazakhstani content».

Total cost of the project - 1 billion tenge, among which almost 700 million tenge was provided in 2012 by Kazakhstani Subsidiary VTB Bank in the form of long-term financing.

At the present time «Region Stroy» LLP conducts mastering of credit limit for acquisition of fixed assets for production plant. In particular, it purchases equipment using which it will produce reinforced concrete products: slabs, foundation blocks, wall panels, piles and other products of reinforced concrete.

Plant area amounts to 6,9 thousand square meters and consists of two workshops for production of reinforced concrete products. According to preliminary calculations, the enterprise will ensure commissioning of more than 50 000 square meters of housing per year.

For reference:
SO JCS VTB Bank (Kazakhstan) - is 100% subsidiary Bank of the largest Russian OJSC VTB Bank. License of the FSA of the RK No. 1.1.259 dated 22.05.2009.
The Bank was assigned international rating at the «BB+» / «Negative» forecast level from Standard & Poor’s Agency. The branch network of VTB Bank (Kazakhstan) covers 17 cities and amounts to 24 points of sales. VTB Bank and its subsidiaries form international financial group which conducts its activities in Russian and foreign markets. VTB Group consists of more than 30 banks and financial companies in 20 countries of the CIS, Europe, Asia and Africa. The major shareholder of VTB – is the Government of the Russian Federation (60,9%).