Kazakhstan creates SOE LLP "Silicon of Kazakhstan" on the basis of Silicium Kazakhstan

The Kazakhstan Agency for Protection of Competition has allowed the state JSC "Kazakhstan Investment Fund" (KIF) to create a state-owned enterprise LLP "Silicon of Kazakhstan", in which the Development Bank of Kazakhstan (DBK) will give him the pledged Silicium Kazakhstan assets, the Russian edition of "Vedomosti" reported with reference to Kazakhstan's anti-monopoly agency.

According to the newspaper, afterwards the Karaganda metallurgical silicon plant will be sold to the strategic investors.

The Russian group of companies "Titan" built the Silicium Kazakhstan silicon plant costing about $ 170 million in 2008. Of these, $30 million dollars were the funds of the "Titan" group, others – were borrowed. DBK credited the project $ 63 million, another major creditor - is BTA Bank .