December 12, 2009

Eximbank of China, Samruk-Kazyna NWF and Development Bank of Kazakhstan JSC have signed a memorandum of understanding on credting SBS-Steel metallurgical plant project in Aktobe region.

Kairat Kelimbetov. Photo from postsoviet.ru

On Saturday in Astana Chairman of Samruk-Kazyna NWF JSC Kairat Kelimbetov and Chairman of the Board – President of Export-Import Bank of China (Eximbank) Li Zhogu signed a Memorandum of Understanding for financing a number of breakthrough projects in Kazakhstan.

At a follow-up briefing, K. Kelimbetov reminded that during the visit of the Head of State to China in April earlier this year an agreement was reached on the allocation of the credit line of $10 billion to Kazakhstan by the Government of China.

"Currently, an agreement between the Eximbank of China, Samruk-Kazyna NWF and Development Bank of Kazakhstan JSC has been finalized to allocate $5 billion (of the amount mentioned). We have just signed individual agreements as part of the financing of breakthrough investment projects in Kazakhstan - the memorandum of understanding on crediting SBS-Steel metallurgical plant project in the Aktobe region with an annual capacity of 500 thousand tons of iron nuggets and construction of a gas-chemical complex in Atyrau region. These are very important projects for the development of our economy. Today, we have agreed that starting next year these projects will be funded with the Eximbank of China credit line" - said K. Kelimbetov.

Source:vesti.kz