• KfW IPEX-Bank provides USD 100 million for Solidcore’s new pressure oxidation plant Ertis POX
• Project to support Belgian process equipment engineering company Coek Engineering
• Financing strengthens European export industry

KfW IPEX-Bank supports European industry by providing USD 100 million financing for Belgian exports to Solidcore Resources plc for the construction of a new pressure oxidation plant in the Pavlodar Special Economic Zone. Solidcore is a leading gold producer in Kazakhstan. In addition to KfW IPEX-Bank’s loan, the European Bank for Reconstruction and Development (EBRD) and an international banking syndicate back the project with USD 600 million.

The new pressure oxidation autoclave produced by Coek Engineering, which is one of the main equipment for Ertis POX Plant, is around 50 metres long, will be the largest of its kind in Kazakhstan and will provide an annual production capacity of 500 kilo ounces (koz) of gold in Dore bars. Belgian process equipment engineering company Coek Engineering delivers the autoclave for the pressure oxidation plant.

"With this financing we are supporting European exports, helping to position European industry more strongly in global competition," says Dr Velibor Marjanovic, member of the Management Board of KfW IPEX-Bank.