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Steel rods plant Evraz Caspian Steel has been unveiled in Kostanay., Tengrinews reports citing the press office of the Development Bank of Kazakhstan.
“70% of the project worth $131 million was financed by the Development Bank of Kazakhstan. The production capacity of the plant is 450 thousand tons per year,” the bank said.
The plant produces reinforcing steel rod for construction with the diameter ranging from 10 to 40 mm. It will reach the design capacity in 2015. “The plant is primarily focused on producing steel reinforcement for Kazakhstani construction market and the remaining goods will be exported to Russia and other Central Asian countries,” the bank representative explained.
The construction of the plant started in June 2011.
The Development Bank of Kazakhstan aims to assist in development of a competitive non-extractive industries in Kazakhstan by investing in infrastructure, manufacturing industry, and other key sectors of Kazakhstan’s economy. The bank was established in 2001. It is a part of Baiterek National Holding, a government-run industrialization arm.
