The European Bank for Reconstruction and Development (EBRD) will provide the Italcementi Group with a loan of around €20 million for a revamp project at the Shymkent cement plant in Kazakhstan. The EBRD will also invest some €4 million in Shymkentcement for an equity stake of approximately 21%.
The project falls under the auspices of the EBRD’s policy to support energy efficiency initiatives in the country. The revamp will see the four wet lines in operation at the plant replaced with a new state-of-the-art dry process line. This will increase efficiency and reduce emissions. Following the revamp, the plant will have the capacity to produce 1.2 million tpa of cement.
At present, construction work is in the advanced stage. The plant is expected to start-up in early 2016.
Adapted from press release by Louise Fordham