The project is financed under the Almaty Business-2025 regional entrepreneurship development program
Almaty Finance LLP, a subsidiary of SEC Almaty JSC, allocated KZT 120 mln to RA Paper LLP to replenish working capital within the framework of launching an copy paper production project in Almaty. The enterprise is located in the Turksib district of the city.
The company allocated KZT 111 mln of its own funds to purchase equipment, while Almaty Finance provided financing to purchase raw materials and cover operating expenses. The total amount of investments in the project including borrowed funds reached KZT 231 mln.
The interest rate on the credit limit is 6% per annum and the term of financing is 3 years. At the initial stage, the company plans to produce up to 100 tonnes of finished products per year. Over the first three years the producer is also expected to pay almost KZT 200 mln in taxes.
"The key objective of the project is to reduce the dependence of Kazakh consumers on imported products, the second objective is to offer the local market its own high quality copy paper, and the third objective is to create new jobs," said Zhuldyz Igenov, Deputy Chairman of the Management Board of Almaty Finance.
For reference:
Almaty Finance LLP, a credit institution established in 2019, is a subsidiary of Social-Entrepreneurial Corporation Almaty JSC. Almaty Finance LLP provides preferential financing to SMEs in Almaty. The purpose of lending is to create new production facilities and replenish working capital. The maximum loan amount is KZT 500 million. Term - up to 7 years. Almaty Finance lending is implemented within the framework of the Almaty Business-2025 regional program.