EBRD Supports Expansion of Kazakhstan’s Salt Production

The European Bank for Reconstruction and Development (EBRD) has provided a convertible loan of up to KZT 5.5 billion (€11 million) to Araltuz, a leading Kazakhstan-based producer of table and low-grade industrial salt in Central Asia. The funds will be lodged with Salt Industry Ltd., a joint-stock company operating under the jurisdiction of the Astana International Financial Centre and a holding company of Araltuz. The loan will enhance the company’s investment program and support construction of new manufacturing facilities for Kazakhstan’s production of vacuum salt, also known as evaporated or culinary salt. It will also help Araltuz diversify and expand exportation to Europe, the Middle East and China, and implement a corporate governance action plan. With more than €10.1 billion invested in the country to date through 320 projects, Kazakhstan is the EBRD’s largest and longest-running banking operation in Central Asia.