EBRD finances paper production in Kazakhstan

Archiv – The European Bank for Reconstruction and Development (EBRD) is providing the equivalent of US$ 55 million (Euro 39 million) in long-term financing to Kagazy Recycling LLP to help the private Kazakhstan-based company to complete the restructuring and expansion of its paper business. Kazakhstan | The European Bank for Reconstruction and Development (EBRD) is providing the equivalent of US$ 55 million (Euro 39 million) in long-term financing to Kagazy Recycling LLP to help the private Kazakhstan-based company to complete the restructuring and expansion of its paper business.
Kagazy Recycling is part of the fast-growing, Almaty-based Kagazy Group whose operations include a range of businesses connected with paper manufacturing. The company’s paper operations use primarily recovered fibre as their raw material: paper is retrieved through a collection centre network established by the company and through agents in southern Russia, Uzbekistan and Kyrgyzstan.
The proceeds of the loans will finance the installation of new equipment to expand significantly the company’€™s output, with paper production scheduled to rise from 40 000 tonnes per annum at present to over 85 000 tonnes by 2012. The aim is to build an incorporated paper business comprising trading, manufacturing and service facilities.