Kazakhstan-Hungarian fund invests in Kazakhstan dairy
The Kazakhstan-Hungarian private equity fund (CCL Kazakhstan ‘Silk Road’ Agriculture Growth Fund) has financed a dairy-commodity farm in the Akmola region of Kazakhstan – Aina dairy farm LLP – for $10.4m, by purchasing a majority stake.
The Fund was established by KazAgro National management holding JSC (KazAgro Holding) jointly with the Hungarian Export-Import Bank (EximBank of Hungary).
Its goal is financing of agricultural projects in Kazakhstan.
The fund is managed by CCL Capital managing company, which is a subdivision of ADM Capital.
The $10.4m will enable the farm to increase the number of cows to the capacity of 1,500, and the construction of a new facility for another 1,500 dairy cows.
EximBank and KazAgro Holding are each contributing $4.7m to the project. The remaining $1m is an in-kind contribution of fodder from the Kazakhstan company.