Phosphorus products plant increases production volumes
A leading company of Kazakhstan’s chemical industry Kazphosphate LLC strengthens its position in the world market of phosphorus-containing products despite challenges related to the pandemic and high competition. The company has exported 89 percent of products abroad since the beginning of the year. The plant manufactures 22 types of phosphorus products and supplies to 26 countries. The export of products was achieved by the reconstruction of workshops and providing them with modern equipment. In order to increase the competitiveness in the market and establish production capacities within the Nurly Zhol state program, the enterprise received financial support through the Development Bank of Kazakhstan (DBK), which is the subsidiary of “Baiterek” Holding.
“The largest investment project, the second stage of which we have started building, is the expansion of phosphate fertilizers production. We increased the set capacity to 500,000 with the help of DBK and other second-tier banks. Next year we should implement the project and thus, probably, we will bring the production of phosphate fertilizers in Kazakhstan at the Kazphosphate to one million tons,” said Mukash Iskandirov, General Director of Kazphosphate.
As part of the exporters support program in 2015, DBK opened a credit line for 7 billion tenge (US$16.3 million) for the purchase of raw materials, stocks and services for pre-export operations. The credit line has now been resumed. This gives new opportunities for the operation of the enterprise, which represents the country’s phosphorus industry.
“The DBK is the main operator of the ‘Nurly Zhol’ state program and, within its mandate, supports domestic exporters. Reliable partnership relations are being established between the DBK and the Kazphosphate,” noted banker of the DBK Client Relations Department Madina Baimen,
Until the end of the year, the enterprise intends to manufacture products worth 155 billion tenge (US$361.3 million). To date, more than 6,000 people work at the enterprises of the Kazphosphate. The company’s responsibility to society includes not only successful production activities, ensuring decent working conditions, but also taking care of employees and their families and interacting with the population of the region.