VTB Bank (Kazakhstan) and Karcement JSC signed an agreement on initiation of credit line for the amount of 1 billion tenge. The enterprise utilizes the received finances for production growth. The deal was part of the program by the Development Bank of Kazakhstan, aimed at development stimulation of domestic producers.
"Karaganda cement plant started its operation in September, 1953 and till present the enterprise remains one of the largest in the cement industry of Kazakhstan. The main activity of the company is the processing industry: the production of cement and reinforced concrete products. The extraction of raw materials for production of cement (limestone, clay, slag, gypsum, iron ore) is produced nearby. The coal, which is the main fuel for clinker production, is supplied from nearby Karaganda and Ekibastuz basins.
- The activities of Karcement JSC has great economic and social effect. The production of basic construction materials means not only work places and taxes, it is also a driver for the development of other economy spheres, in particular the country's construction industry, "says Dmitry Zabello, Chairman of the Board of VTB Bank (Kazakhstan). - We started cooperation with one of the largest domestic enterprises of cement industry and are confident that the development of these partnership relations will contribute to the successful implementation of the tasks facing the company and country`s economy.
Karcement JSC Plant is the only one in the country which has two high-tech lines of "dry" cement production method, which produces high-quality products of M500 brand. The designed capacity is 3.6 million tons annually. The uninterrupted operation of this production is of great importance for the development of Karaganda region, the plant ranks among top eight of system-forming enterprises of the region.
- Cement production allows us to provide work positions in this region, not only to our employees, but also to the workers of extractive industries, which is very important for the development of the region. At the moment, the cement plant provides work positions to over 400 employees, "says Gunn Chi Liong, General Manager of Karcement JSC. - We are impressed by the fact that VTB Bank (Kazakhstan) seeks to establish with customers on equal partnership basis on mutually beneficial terms. When choosing a bank, we took into account such parameters as: credit rating, quality of service and favorable terms of the deal. Due to this deal, we are able to increase domestic production volume and market share, which fully corresponds to the ideas of the state program for import substitution.
Subsidiary VTB Bank JSC (Kazakhstan) is a member of VTB international financial group. The Bank has successfully worked more than 7 years in the financial market of Kazakhstan. To date, Subsidiary VTB Bank JSC (Kazakhstan) has a branch network, consisting of 37 structural subdivisions, 17 of which are branches. The Bank's Central Office is located in Almaty. The license of the National Bank of the Republic of Kazakhstan No.1.2.14/39 dated December 23, 2014.
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