SEF Altyn-Ajydar III

completed

Altyn-Ajydar, located in Bishkek, was set up in 1995 and has been a long-term IFC client since the late 1990s. IFC provided loans in 1999 to finance the modernization and expansion of the company’s cardboard packaging facility and in 2005 to set up a new corrugated packaging line. Altyn-Ajydar’s management has currently identified strong demand for construction materials in Kyrgyzstan and Kazakhstan due to the long-term growth potential of the construction industry in both countries. The company has approached IFC for up to $1.5 million in debt to assist in the financing of a $3.0 million project to establish production lines for aluminum composite panels and tempered glass/double-glazed window/PVC window frame and stained glass units. The project will be located in facilities adjacent to company’s packaging plant in the industrial zone on the outskirts of Bishkek. Altyn-Ajydar has already installed the unit for the production of aluminum panels and construction works are ongoing to adapt an existing industrial hall to host the insulated glass/window frame units.