A glass container production plant is being launched in the Industrial Zone of Almaty.
The enterprise will be located on an area of 6.4 thousand square meters and, at 75% capacity utilization, will be able to produce over 21.6 thousand tons of products annually. It is planned to create 58 new jobs.
The launch of the plant will make it possible to fully supply the domestic market of Kazakhstan with glass containers, thereby reducing dependence on imports from Russia and Uzbekistan. Currently, there are three glass plants operating in the country – two in Almaty and one in Shymkent – which cover only half of the market demand.
The project is being implemented by “Bagdar LTD” LLP with the financial support of “Almaty Finance” LLP, a subsidiary of SEC “Almaty” JSC. A total of 500 million tenge has been allocated for the launch under the “Almaty Business – 2025” program. Of this amount, 300 million tenge has been directed towards the purchase of equipment, commissioning works, and logistics, while another 200 million tenge has been allocated to replenish working capital. The financing rate amounts to 6% per annum, with a term of up to 4 years.
“The project is focused on the development of sustainable production and support for the principles of the circular economy. Thus, in addition to manufacturing glass containers, the plant will also recycle cullet, thereby addressing the issue of waste disposal and protecting the environment,” - noted Berik Kussainov, Chairman of the Management Board of “Almaty Finance” LLP.
The plant will also engage in cullet recycling, which will help reduce the volume of waste and promote the development of circular economy principles.
Reference Information:
“Almaty Finance” LLP — a lending institution established in 2019, is a subsidiary of SEC “Almaty” JSC. “Almaty Finance” LLP provides concessional financing to SMEs in Almaty. The maximum loan amount is 500 million tenge. The loan term is up to 7 years. Lending by “Almaty Finance” LLP is implemented within the framework of the regional program “Almaty Business – 2025.”.
