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EBRD loan will help Empire Manufacturing Kazakhstan build a modernised coffee-processing plant Project will create jobs and set new benchmark for Kazakh food-processing sector It will also boost exports to growing demand centres in Central Asia and the Caucasus The European Bank for Reconstruction and Development (EBRD) is providing a loan of up to US$ 10 million to Empire Manufacturing Kazakhstan (EMK) that will enable the company to begin coffee production at modernised facilities and create jobs. The EBRD’s senior loan will help EMK commission, build and equip a new coffee-processing facility based in the Khorgos Free Economic Zone. EMK is a subsidiary of multinational food and beverage manufacturing and distribution group Food Empire Holdings, which is listed on the Singapore Exchange. Up to 50 per cent of the coffee EMK produces at its new plant is expected to be exported to Central Asia and the Caucasus to meet growing demand in these regions for Food Empire’s products, such as instant beverages. The factory will become a benchmark for the food-processing sector in Kazakhstan and Central Asia in terms of technology and hygiene standards. The EBRD has invested more than €11 billion in 335 projects in Kazakhstan, with most of the funds supporting private entrepreneurship. |
