EBRD lends KZT 5.5 billion to Kazakhstan salt producer

Araltuz is a leading producer of table and low-grade technical salt in Central Asia

• EBRD lends KZT 5.5 billion to Salt Industry Ltd
• The convertible loan will be used by Araltuz to upgrade its production facilities
• Leading salt producer to diversify exports and improve corporate governance

The European Bank for Reconstruction and Development (EBRD) is supporting the expansion of Araltuz, a leading Kazakhstan -based producer of table and low-grade technical salt in Central Asia, by extending a convertible loan of up to KZT 5.5 billion (€11 million).

The funds will be provided to Salt Industry Ltd., a joint-stock company operating under the jurisdiction of the Astana International Financial Centre and a holding company of Araltuz. They will contribute to the company's investment programme and support the construction of new manufacturing facilities to launch the domestic production of vacuum salt (also known as evaporated or culinary salt).

The EBRD loan will help Araltuz diversify the structure of its exports and expand to Europe, the Middle East and China.

As part of the project and with the EBRD assistance, Araltuz will also 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.