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Kazakhstan, and Iran: Joint Venture on Building Glass Manufacturing Plant

Implementation of this project worth about KZT 52 billion will be carried out by the new Orda Glass project company, whose shareholders are The Investment Fund of Kazakhstan, and strategic investor Kaveh Float Glass Co. Funding for the project will be carried out both at the expense of shareholders’ equity, and the loan. Thus, 30 %, which is about USD 85,2 million of the cost of the project, is financed by the shareholders, 70 %  (USD 198,7 million) account for borrowed funds. A subsidiary of Baiterek National Holding JSC – Development Bank of Kazakhstan JSC is considered as a source of the borrowed funds. In accordance with the agreement, the construction of a new plant on the territory of the new industrial zone of Kyzylorda will begin in October 2014. Commissioning is scheduled for the third quarter of 2017. The plant will produce products that comply with the European quality standards: flat glass (1,971 Mt/a), hardened flat glass (3700 t/a), mirrors (3 Mm2/a), windows (7700 t/a) as well as energy-saving glass with magnetron deposition (11 Mm2/a). Reportedly, 70 % of the products will be sold on the domestic market, the rest will be sent for export, mainly to the countries of the Customs Union and Central Asia.


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