New crushing plant unable to reach full capacity due to non-payment of subsidies

Altyn Shygys LLP has invested 34 billion tenge in the processing of oilseeds, but due to the fact that the company still cannot receive subsidies, the project has not been fully implemented, APK Novosti agency reports.
 
Director of Altyn Shygys LLP Pavel Pisarenko presented his project for the construction of a unified oil extraction plant with a capacity of 1,400 tons per day in the village of Predgornoye, East Kazakhstan region, at a meeting with the Prime Minister of the country.
 
According to him, the company has already actively invested more than 34 billion tenge in the launch of a new oilseed processing plant, which made it possible to provide jobs for more than 280 people. By the end of this year, for the full implementation of the project, it is planned to additionally invest about 2 billion tenge, and next year - 6 billion tenge, with an increase in the number of jobs to 420. According to the entrepreneur, the amount of planned tax deductions will exceed 1 billion tenge per year.
 
“When implementing such large projects, much attention is paid to state support measures, which are provided in the form of subsidies. However, today, taking into account the investments already invested, we have not received the amount of 1.3 billion tenge due to the company as part of subsidizing the interest rate,” Pavel Pisarenko outlined the problem.
 
To fully load production, taking into account the company's plans to increase production capacity, it is necessary to install a substation, the cost of which is more than 1.2 billion tenge, the entrepreneur said. At the same time, the company has already completed work on the development of an external power supply scheme.
 
“Construction of the substation will completely remove the issue of infrastructure support and will allow us to fully implement our investment project,” Pisarenko said.
 
The prime minister instructed the akimat of the East Kazakhstan region to find a way to pay subsidies and build infrastructure in order to implement the presented project.
 
As reported, Altyn Shyghys LLP commissioned a new oil extraction plant in 2022. The plant is completely waste-free and provides for high automation of the vegetable oil production process. The plant's products will be exported to China, Iran, Uzbekistan and other countries.
 
Altyn Shyghys LLP is part of the Sei-Nar group of companies. The main activity of LLP is the production of oils and fats.