Karaganda and Atyrau regions have concluded loan agreements with Taraz and Koksu plants in the amount of about 2.5 billion tenge under new financing mechanisms under revolving schemes. The contracts were concluded within the framework of the memorandum signed earlier, the press service of the Trade Committee of the Ministry of Education and Science of the Republic of Kazakhstan reports, Delovoy Kazakhstan reports.
As part of the agreements, the plants will supply more than four thousand tons of sugar to the markets of the two regions at a selling price of no more than 460 tenge per kilogram.
As the first Vice-Minister of Trade and Integration Arman Shakkaliyev noted, in the near future similar agreements are planned to be signed by Pavlodar, Zhetysu, Aktobe, West Kazakhstan regions in the amount of more than 5 billion tenge. At the same time, the procedures for signing contracts and, accordingly, the allocation of funds are delayed in Almaty, Astana, Shymkent, Turkestan, Mangystau, Kostanay, Almaty, East Kazakhstan regions.
In total, the akimats of the regions will allocate 25 billion tenge of working capital for the purchase of raw sugar to four domestic sugar factories across the country.
Financing of sugar factories under revolving schemes is carried out within the framework of the memorandum of cooperation signed on October 12, 2022 to curb sugar prices between the Trade Committee, social and entrepreneurial corporations and sugar factories. According to the signed document, sugar factories will purchase a three-month volume of raw sugar in the amount of 136 thousand tons and ensure continuous processing throughout the year. In turn, the plants make clear counter-commitments to fix the selling price, mandatory modernization of plants, increase storage capacity and implementation of the plan for the development of the sugar industry.
