STCM Nov Historically largest cement producer in Kazakhstan
located near the new capital Astana Current production of 0.8 m.
tons will increase to over 3 m. tons once refurbishment exercise is
completed New production will serve to curb imports in Kazakhstan
currently 2 m. tons per year Equity listed in AIMS under STCM code
since October million shares outstanding, market cap approximately
$400m. Free float 38% Bonds listed in the KASE under CACMb1, $21 m.
market value STCM Nov PRODUCTION, SALES & PRICE thousand tonnes
Price per tonne Kazakh tenge STCM Nov FINANCIAL HISTORY OF CAC /
STEPPE CEMENT Years ended 31 December 6m to 30 June 2003 US$ US$
US$ US$000 Sales22,00332,41649, Gross profit12,15319,29529,
Operating profit6,70311,03521, Net finance
costs(307)(886)(1280)(293) Net other income1,2311,636(105)830
Profit before tax7,62711,78520, Tax(1,931)(3,848)(6,541)(3.473)
Profit after tax5,6967,93713, STCM Nov KAZAKHSTAN CEMENT SUPPLY AND
DEMAND STCM Nov ESTIMATED FUTURE CEMENT CONSUMPTION STCM Nov
REGIONAL CEMENT MARKET SALES CENTRE NORTH WEST SOUTH EAST Source:
Association of Cement Manufacturers Kazakhstan STCM Nov EXPORTERS
TO KAZAKHSTAN Clinker Capacity Cement Production (000 tones)
exports to KZ Russia, Siberia12,500~8,500~9,100~10,0001,400
Kyrgyzstan1, Uzbekistan5,1004,200~4,400~4, Estimated exports to
Kazakhstan5001,0001,6002,000 STCM Nov PROJECT SCOPE AND TARGETS
Refurbished line 6 maintaining kiln, pre-heater and cooler but full
electrical repairs by ABB Change of pyro-processing line 5 by FL
Smidth and full electrical and mechanical repairs Project may be
extended to cover improvements in raw mills, cement mills, quarry,
compressors and dispatch STCM Nov PROJECT ORGANIZATION AND PROGRESS
PEG, Philips Reamer, FL Smidth as technical consultants 80% of
contracts for line 6 and 60% of contracts for line 5 signed
Objective: to sign all contracts by end 2006 and complete lines 6
and 7 for the summer seasons 2007 and 2008 New COO, Stuart Elliot
ex COO Cimentiere du Liban 7 expatriate mechanical and electrical
engineers on site with over 200 years combined experience in the
cement industry Mace UK acting as project manager with 7 employees
on site STCM Nov FINANCING First share offering completed in March
2006 raised $21 m. in AIMS Bond issue completed in September 2006
for $21 m. Full disbursement to be completed in November Trading in
the KASE EBRD loan signed in December Planned to be disbursed in 1Q
2006 Bridge finance of $46 m. from KKB for suppliers letters of
credit Income tax exemptions for all new production for 5 years
starting in 2007
