June 12, 2012

KazAgroFinance spends over US$9.41 million in Atyrau region's agriculture sector

In the past seven years, the KazAgroFinance firm has spent over KZT1.4 billion (US$9.41 million) in the agro-industrial complex of Kazakhstan's Atyrau region.

KazAgroFinance has invested more than KZT1.4 billion (US$9.41 million) in the agro-industrial complex of the Atyrau region over the past seven years, the company's press service reported. In particular, it financed the purchase of the region's farming entities of 432 pieces of equipment totalling KZT769 million (US$5.17 million).

Since the beginning of the year, KazAgroFinance has purchased about 500 "Belarus" tractors produced by SemAZ for KZT1.8 billion (US$12.10 million) for the needs of the domestic agricultural sector. Over this time, the leasing company has purchased more than 1,600 "Belarus" tractors from the Semei Machine Building Plant and given them to farmers in the country, according to the report. KazAgroFinance is a company established by government decree in Kazakhstan in 1999. Its main goal is to support the development of the country's agrarian sector, ensuring access of agricultural commodity producers to funding resources as well as agricultural machinery and processing equipment on a leasing basis. It is part of the KazAgro National Holding Company.