Kazakhstan's state holding Baiterek has introduced a new guarantee mechanism to back large-scale investment projects exceeding KZT 7 billion. The first agreement under this scheme was signed with Qazaq Global Food JV, the Development Bank of Kazakhstan, and the "Damu" Entrepreneurship Fund, which for the first time acted as a guarantor for a DBK loan.
Qazaq Global Food JV, in partnership with Turkey's Göknur Gıda, is building a plant in the Almaty region to produce apple juice concentrate and fruit-vegetable purées. The project is valued at KZT 9.5 billion (€18M), of which KZT 7.1 billion is financed by DBK, while Damu provided a guarantee of KZT 2.8 billion.
According to the company, the facility will be the first of this scale in Kazakhstan. Once fully operational, it is expected to replace up to 80% of imported juice concentrates and target 100% of its output for export. Construction is already underway, with the first production planned for next year.
Source: eldala.kz