The Kazakh arm of Russia’s Sberbank group has approved a KZT1 billion (US$2.7 million) loan for Kazakhstan lead battery manufacturer, Kainar-AKB, to upgrade its Taldykorgan plant.
The funds will be used “to purchase (new) and upgrade existing equipment of the Taldykorgan Battery Plant”.
The loan has been granted under Kazakhstan’s Road Map 2020, a state-led programme for issuing grants, loans, and reductions interest rates and loan repayments, to support small and medium-sized businesses in the country.
Kaimar-AKB manufactures “accumulators for cars, trucks, agricultural and military equipment of all sectors of the national economy”.
Russia, the Commonwealth of Independent States countries, Poland, Germany and China all have long-term contracts for products from the Taldykorgan plant, Sberbank said.
Construction of the Taldykorgan battery plant began in 1970, with the first battery— the 6ST-75EM— being produced there in 1975. Kaimar-AKB was one of five battery manufacturers in the former USSR.
Kaimar-AKB head Serikbai Azhmaganbetov said all battery components are produced at the company’s facility— from casting plants and components to assembling finished products. He said the company currently produces up to 2.5 million batteries annually.