After a period of extensive modernisation, Interglass – the largest industrial glass producer in Central Asia – is restarting the operation of its float glass plant. The furnace was fired up during a ceremony in Tokmok in the north of the country.
The EBRD provided a total of about US$ 22 million to Interglass, including a US$ 10 million loan approved in July 2011 to support the modernisation project. The project went ahead despite the onset of the global economic crisis and political upheaval in the Kyrgyz Republic.
The EBRD’s funds were used to rebuild and commission the float glass plant using modern equipment, which will increase the quality of the product and the capacity of the plant, and improve energy efficiency.
“Following completion of the project, Interglass is in a good position to resume supplying glass to the local market and to export to neighbouring markets in Central Asia and Siberia,” said Larisa Manastirli, Head of EBRD resident office in Bishkek, after the ceremony.
Since the beginning of its operations in the Kyrgyz Republic, the EBRD has invested over US$ 470 million in the country, mobilising an additional US$ 560 million from other sources of financing. Over 80 per cent of the EBRD’s investments are in the country’s private sector.