According to the EBRD, the project consists in the provision of a convertible loan facility of US$ equivalent of KZT 5.5 billion to a parent company of Araltuz JSC, to be established under the jurisdiction of Astana International Financial Centre.
The Bank's financing will be used towards Araltuz's investment programme aiming at introduction of new products and sales diversification to new markets.
As stated on the company's website, Araltuz JSC has been the largest producer of edible and technical salt in Kazakhstan since 1925. The main activities of the company are the extraction, production and sale of edible and technical salt.
Araltuz JSC is owned by Yasai Holding.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Astana International Financial Centre||Undisclosed||Finance|
|Yasai Holding||Client||Finance||owns||Araltuz JSC||Subsidiary||Industry and Trade|
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ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.
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