The European Bank for Reconstruction and Development (EBRD) is providing financial assistance to Intellpack, a privately owned distributor of warehouse equipment and a manufacturer of packaging materials in Kazakhstan.
As per the deal, the EBRD will provide a five-year, KZT700m ($2m) loan, which will be released in two equal tranches.
The project will help Intellpack, which manufactures stretch film and duct tape, expand its operations.
Intellpack will use the money to renovate its newly acquired warehouse and administrative facility, as well as renew transportation fleet and other capital expenditure.
The project is not only expected to increase Intellpack’s operational efficiency but also improve overall storage capacity by more than 50%. The project is being supported through the EU’s Investment Facility for Central Asia (IFCA).
The EBRD has been working with Intellpack since 2014. Since the last four years, the bank has been helping Intellpack improve its financial and operational management. The technical cooperation programmes were funded by the governments of Kazakhstan and the US, and by the EU.
So far, the EBRD has reportedly invested more than $8.7bn in the economy of Kazakhstan.
Intellpack, with its offices in Almaty and other seven other branches in Kazakhstan, has been operating since 2006. The company provides packaging materials and equipment to leading European and Asian manufacturers.
In 2011, the company launched a new line production of three-layered linear stretch film in Almaty. The product is claimed to have been produced on a modern European line, allowing to manufacture products that are of European quality.
The company states that it takes a bespoke approach to each of its customers and finds the most effective solutions.
Image: INTELLPACK is a distributor of warehouse equipment and a producer of packaging materials in Kazakhstan. Photo: Courtesy of The European Bank for Reconstruction and Development.