Bank CenterCredit JSC and KZ Recycling LLP have signed an agreement to open a credit line of KZT 15 billion for a five-year term, with a payment guarantee issued in favor of Industrial Development Fund JSC. The financing will support the ongoing construction of a cardboard and paper production plant in Almaty’s industrial zone.
“Projects backed by Industrial Development Fund JSC generate significant economic and social benefits — from increased tax revenues and job creation to the development of domestic products and enhanced export potential. We prioritize support for Kazakhstani manufacturers who demonstrate a real, objective need. The construction of this paper products plant is a prime example of that commitment. Moreover, the project fully aligns with Kazakhstan’s environmental agenda. Since 2024, as part of the national Green Economy transition plan, the Fund has been working with the Ministry of Ecology and Natural Resources and Zhasyl Damu JSC to support enterprises engaged in sorting, recycling, and disposal of municipal solid waste — all aimed at preserving environmental balance,” noted Azat Abaidildin, Deputy Chairman of the Management Board at Industrial Development Fund JSC.
The plant under construction will be equipped with advanced production lines, significantly increasing capacity. It will manufacture a wide range of cardboard and corrugated packaging products, fostering the growth of domestic industry and exports.
“The Bank is actively involved in financing Kazakhstan’s real sector, supporting industrial development and job creation. Strategic initiatives like this plant are central to our sustainable development strategy. As a reliable partner, we believe this project will create new jobs and strengthen the competitiveness of Kazakhstani industry,” said Nurlan Shegebayev, Vice President of Bank CenterCredit JSC.
The funding will cover construction work, procurement of modern production lines, and expansion of capacity, including leasing of new equipment.
“We sincerely thank Industrial Development Fund JSC and Bank CenterCredit JSC for supporting our vision. This financing will allow us to significantly scale operations and integrate cutting-edge technologies to deliver higher-quality products to the market. This project marks a milestone for Kazakhstan’s packaging and processing sector and will contribute positively to both domestic and export markets,” said Kanat Isabayev, General Director of KZ Recycling.
KZ Recycling LLP is one of Kazakhstan’s leading companies in waste paper recycling and is actively expanding into the production of paper, cardboard, and packaging materials. The new facility will enhance production volumes, improve quality, and increase export potential for locally made products.
