Orzax Secures EBRD Financing to Advance a Project in Kazakhstan
Within the framework of agreements reached following the meeting between the Head of State and Orzax management in July of this year, the company has commenced preparations for an investment project to establish a production and logistics hub in Kazakhstan. As a continuation of these arrangements, Orzax Central Asia, a subsidiary of Orzax, has signed a financing agreement with the European Bank for Reconstruction and Development (EBRD).
The agreement provides for up to EUR 25 million in EBRD financing to support the establishment of a greenfield food supplements manufacturing facility in the Turkestan region. The project is considered Orzax’s first international manufacturing site and forms part of the company’s strategy to expand its presence in Central Asia and neighboring markets.
Ahmet Alimoglu, Founder and Chairman of Orzax, noted that Kazakhstan is viewed by the company as a promising platform for export-oriented production localization, the development of research activities, and the implementation of international quality standards. According to him, cooperation with the EBRD represents an important stage in structuring the project and forming a sustainable financial model.
The European Bank for Reconstruction and Development emphasized that Kazakhstan remains one of the Bank’s key countries of operation. Since the start of its activities in the country, the EBRD has invested more than EUR 10.2 billion in 342 projects, primarily in the private sector and manufacturing industries, and intends to continue supporting strategic initiatives that contribute to economic diversification and the development of local production.
The national company KAZAKH INVEST is supporting Orzax’s initiative in Kazakhstan by facilitating coordination with government authorities and development institutions, as well as assisting the investor during the project preparation and structuring stages.
