EDB is financing construction of a new carriage repair complex in Kazakhstan

Almaty, August 1, 2012 — Eurasian Development Bank (EDB) signed a loan agreement with LLP Center of carriage services — Eskene as part of project on construction of a new carriage repair complex in Atyrau region of the Republic of Kazakhstan.

The project envisages construction of a universal complex for repair and maintenance of railway carriages, especially cistern cars.

As part of its financing the Bank will provide US $56 m for 10 years. The total project cost is US $ 70 m.

When implementing the project a strong effect of sustainable development will be achieved due to positive impact on the development of transport machinery and more efficient use of existing transport infrastructure of the Republic of Kazakhstan. The project will create 263 new jobs. The volume of tax payments from its implementation during crediting period will amount to about US $ 56 m. The project also promotes growth of mutual trade between Kazakhstan and Russia — the main part of equipment during construction of carriage repair complex amounted at US $ 30 m will be supplied by Russian manufacturers.

Reference

Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan

More information about EDB is available on https://www.eabr.org