OREANDA-NEWS. Kazkommertsbank JSC (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release:

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Flagship of the modern Kazakhstani electric machine engineering is Kentau Transformer Plant (KTP), which totally disbursed the Kazkommertsbank loan in the amount of KZT 1 bn, which was granted for purchase of equipment and enabled support of the import substituting production.

This year funds were allocated by Kazkommertsbank in the form of revolving credit line for 5 years at the interest rate of 6% per annum within the framework of state program of the Development Bank of Kazakhstan (Tranche 3).

All loan proceeds have already been totally disbursed and used for purchasing raw materials and materials for producing cabinet constructions, transformers and different substations, as well as for replenishment of the working capital.

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The full press-release is available on KASE website, at http://www.kase.kz/files/emitters/KKGB/kkgb_reliz_051115_en.pdf