Spain To Build Rubbish Recycling Plants In Kazakhstan

ASTANA. KAZINFORM Spain is ready to invest into construction of rubbish recycling plants in Kazakhstan, Kazinform reports. Baiterek National Holding will help the Spanish company work with local administrations, develop feasibility studies following the results of the 5th sitting of Kazakhstan-Spain Business Council. CEO at Kazakhstan Project Preparation Fund, the holding's branch organization, Adil Utembayev and E-Zhasyl - Green Solutions director Diego Amado became the signatories of the memo. The Spanish company will start analyzing rubbish morphology in each city and will make preliminary financial calculations. It works with nine local administrations. The cost of the plant varies from EUR 20 million to EUR 40 million. Its cost depends on the volume of wastes and necessary processing chains. The parties are expected to hold final talks next spring. "The Spanish companies are ready to invest but each investment project needs bank financing. To minimize exchange risks Baiterek Holding via Kazakhstan Development Bank is ready to suggest financial banking in local currency terms," Utembayev resumed.