Development Bank of Kazakhstan seeks probe into Kagazy.

By bne IntelliNews March 9, 2011
State-owned Development Bank of Kazakhstan (DBK) is seeking a probe by law-enforcement authorities into alleged misappropriated use of USD 10mn borrowed by Kagazy. The bank asked the authorities for help after a technical audit to review a request by Kagazy to restructure USD 70mn debt. Kagazy is the largest paper producer in Central Asia. DBK declined the plan to restructure debt of the companys units AO Astana Contract and TOO Paragon Developments which oversee a container and warehouse terminal in Almaty.

Related Articles

Kazakhstan in talks with McDonald's.

Kazakhstan is in talks over McDonald's enter to the Kazakh market, President of the Eurasian Franchising Association, Beknur Kissikov has said. He added that the main reasons that McDonald's is ... more

Kazakhstan to establish institute for energy and energy effectiveness.

Kazakhstan will establish institute for energy and energy effectiveness, deputy PM and Minister of Industry and New technologies Aset Isekeshev has informed. The new entity should start operating ... more

Kazakhstan to diminish oil products imports from Russia.

Kazakhstan plans to diminish oil products imports from Russia, according to Kuandyk Kulmurzin Director of oil industry development department in Oil and Gas Ministry. He explained that the reason ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335