A glass factory worth 284 million dollars is set up In Kyzylorda

"Investment Fund of Kazakhstan" (subsidiary of JSC "NMH" Baiterek ") and the company Kaveh Glass Industry Group (Iran) signed an agreement to establish a joint venture for the production and processing of flat glass. Cost of the project - 52 billion tenge. The projected capacity of the plant - 197 thousand. Tons per year.

Construction of a new plant in the industrial zone of Kyzylorda will begin in October 2014. Commissioning is scheduled for the third quarter of 2017. The plant will produce products that comply with the European quality standard. It will be made: flat glass, mirrors, windows, and energy-saving glass with magnetron sputtering. It is expected that 70% of the products will be sold on the domestic market, the rest - be exported, mainly to the countries of the Customs Union and Central Asia. The plant will employ about 300 local professionals.

Funding for the project will be financed through equity and through loans. As a source of leverage is considered JSC "Development Bank of Kazakhstan".