DBK develops cooperation with Uzbek partners
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On December 21, a delegation of Development Bank of Kazakhstan JSC (subsidiary of Baiterek NMH JSC, hereinafter referred to as DBK, the Bank), as part of the state visit of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev to Tashkent, held a number of the meetings with Uzbek partner organizations, a press-release from the DBK reads.
As a result of the meetings, a number of documents were signed. Thus, Marat Yelibayev, Deputy Chairman of the Board of DBK, and Bo Inge Andersson, General Director of UzAuto Motors JSC, signed a memorandum of cooperation on organizing the production of a full cycle of Chevrolet Onix car in Kazakhstan using the small-unit assembly method.
The project will be implemented in 2023-2025 on the basis of Kostanay SaryarkaAvtoProm plant. The components for production will be supplied by UzAuto Motors JSC which is an authorized supplier of General Motors.
The total estimated cost of the project is estimated at $50 million, and it is planned to implement it with the financial instruments of DBK group, including the leasing programs of Industrial Development Fund.
It should be noted in Kazakhstan, the production of Chevrolet brand cars is already underway at SaryarkaAvtoProm plant using a SKD method with their subsequent sale within the country, as well as in foreign markets. The implementation of this project will increase the localization of manufactured vehicles, increase the export potential of Kazakhstan and create more than 400 new jobs.
Also, Marat Yelibayev, the Deputy Chairman of the Board of DBK and Azizbek Khodzhaev, the Deputy Chairman of the Board of National Bank for Foreign Economic Activity of the Republic of Uzbekistan JSC signed an agreement on the provision of a credit line by DBK for Uzbek bank to finance the export of Kazakhstani products of high and medium processing and services.
The size of the credit line is up to 20 million US dollars, and the validity period is 24 months from the date of conclusion of the agreement. The signed document will increase the competitiveness of the marketing of Kazakhstani products in the Republic of Uzbekistan and reduce the risks of its non-payment or delay in payment by providing financing for domestic exports.
DBK offers domestic exporters, together with buyer-importers to use the trade finance product, which will enable exporters to receive instant payment for the shipped goods, and importers-buyers to get financing for payment for Kazakhstani products in Uzbek bank.
Source: kazinform
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Kazakhstan to build 160 MW combined cycle power plant in Aktau
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As part of implementing the instructions of President Kassym-Jomart Tokayev, the Government has approved the signing of an investment agreement for the construction of a 160 MW combined cycle power plant in the city of Aktau between the Ministry of Energy of Kazakhstan and Aktau Energy Company LLP, Qazinform News Agency reports.
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