Kazakhstani-Hungarian Fund invested $10.4mln in construction of Akmola farm

The invested 10.4 million dollars will be used to fully equip the existing farm with a capacity of 1,500 cows and build a new dairy farm for 1,500 cows. Thus, it is planned to increase the number of highly productive cattle from 580 to 3,000 heads, KazAgro reported.

"The funds of the Kazakhstani and Hungarian sides are involved in project's investment, including the Export-Import Bank of Hungary sent an amount of 4.66 million dollars for investment, a similar amount was financed by the KazAgro Holding. In addition, the management company of the ADM Capital Fund invested 94.2 thousand dollars in investment in the project and the Kazakhstani investor invests 1 million dollars in the form of fodder", the report said.

In addition, the assets of the Kazakhstani investor and the biological assets of Hungarian suppliers will be used in the implementation of the project.

As previously reported by the National Holding "KazAgro", the Kazakhstani-Hungarian Direct Investment Fund planned to finance the modernization of the dairy farm in Kazakhstan. The corresponding memorandum was signed in Astana in December last year.

It is worth noting that in 2017, the Kazakhstani-Hungarian Fund invested 12 million dollars in the construction of a modern greenhouse complex with an area of 20 hectares. in Aktobe region together with the companies FoodVentures (Holland) and LLP "Green Capital Kazakhstan" (Kazakhstan). The amount of investments was 6 million dollars from the Kazakhstani side and 6 million dollars from foreign investors.

We note, the Fund was established by the National Managing Company "KazAgro" together with HungarianExport-ImportBank (Eximbank of Hungary). Its target is to finance agricultural projects in Kazakhstan.