Michael Wilson & Partners, Ltd. is proud to have acted for Karcement JSC and Central Asia Cement JSC
MWP is proud to have acted for Karcement JSC and Central Asia Cement JSC, part of the Steppe Cement plc group (ticker: “stcm” on the LSE’s AIM market), the latter of which owns and operates five wet-technology cement producing lines in Kazakhstan, on the documentation of their US$ 55M project finance facility from the European Bank for Reconstruction and Development and Kazkommertsbank JSC, the latter in place of ABN Amro Bank as the “B” lender.
The project finance facility, together with the companies own resources and cash-flows, is being used for the reconstruction, re-equipping and upgrade of two dry cement lines, and related equipment, infrastructure and facilities, owned by Karcement JSC, and are expected to result in an additional 2.3mtp of production by the end of 2008. This upgrade will allow KarCement/CAC to produce 50% of all cement produced in Kazakhstan, and to have the only dry-lines currently in production in the country as all of the other plants use the older and less efficient wet-technology.
The project finance facility, together with the companies own resources and cash-flows, is being used for the reconstruction, re-equipping and upgrade of two dry cement lines, and related equipment, infrastructure and facilities, owned by Karcement JSC, and are expected to result in an additional 2.3mtp of production by the end of 2008. This upgrade will allow KarCement/CAC to produce 50% of all cement produced in Kazakhstan, and to have the only dry-lines currently in production in the country as all of the other plants use the older and less efficient wet-technology.