Michael Wilson & Partners, Ltd. advises JSC Central Asia Cement and JSC Karcement in relation to the US$23.3m credit line and US$10 facility
MWP has advised JSC Central Asia Cement and JSC Karcement in relation to the US$23.3m credit line agreement with HSBC Bank Kazakhstan to refinance the existing loans together with interest, charges and fees that JSC Central Asia Cement and JSC Karcement had with JSC Kazkommertsbank and for the purposes of their general working capital requirements in connection with the completion of the refurbishment of the dry-process cement line 6. MWP has also advised JSC Central Asia Cement and JSC Karcement in relation to a US$10m facility from Halyk Bank.
JSC Central Asia Cement and JSC Karcement are part of the Steppe Cement plc group (ticker: “stcm” on the LSE’s AIM market) which owns and operates a cement manufacturing complex in Karaganda Oblast, Kazakhstan. The cement complex consists of five wet-technology cement producing lines and now also a dry-process line number 6 which was successfully commissioned at the end of October 2008. Line 6 will have an initial capacity of 800,000 tonnes per year that will be progressively increased to 1 million tonnes per year.
JSC Central Asia Cement and JSC Karcement are part of the Steppe Cement plc group (ticker: “stcm” on the LSE’s AIM market) which owns and operates a cement manufacturing complex in Karaganda Oblast, Kazakhstan. The cement complex consists of five wet-technology cement producing lines and now also a dry-process line number 6 which was successfully commissioned at the end of October 2008. Line 6 will have an initial capacity of 800,000 tonnes per year that will be progressively increased to 1 million tonnes per year.