Development Bank of Kazakhstan signs €418m potash deal and KfW loan

September 30, 2026 at 11:08 AM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Development Bank of Kazakhstan signed agreements with European financial institutions and industrial partners during the president's visit to Germany. The deals cover financing and technology transfer for potash fertilizer, aluminum, and renewable energy projects. They include a €418 million potash agreement and a $200 million KfW loan.

Key Facts

Development Bank of Kazakhstan signed a €418 million trilateral agreement with Qazaq Kalium LTD and a consortium of Thyssen Schachtbau GmbH and Shachtbau Kazakhstan for a potash mine complex at the Satimola deposit.
The Satimola project will produce up to 1.5 million tonnes of potash fertilizers per year.
Development Bank of Kazakhstan and Aluminum of Kazakhstan agreed on preliminary financing terms for modernization of the Pavlodar aluminum plant, aiming to increase capacity to 1.7 million tonnes of alumina per year.
Development Bank of Kazakhstan signed a credit agreement with German state development bank KfW for up to $200 million under a MIGA guarantee for renewable energy projects.
The first project financed by the KfW loan will be a 1 GW wind power station with a 300 MW / 600 MWh BESS energy storage system near Mirny village in Zhambyl region.

Potash Fertilizer Project

Development Bank of Kazakhstan signed a €418 million trilateral agreement with Qazaq Kalium LTD and a consortium of Thyssen Schachtbau GmbH and Shachtbau Kazakhstan. The agreement initiates financing for a contract covering design, equipment supply, and construction of a mine complex at the Satimola deposit. The project will produce up to 1.5 million tonnes of potash fertilizers annually. Development Bank of Kazakhstan provides financing through a bond instrument, including EPC contract financing. The agreement involves technology transfer and specialized engineering expertise from German companies.

Aluminum Plant Modernization

Development Bank of Kazakhstan and Aluminum of Kazakhstan signed an agreement on preliminary financing terms for modernization of the Pavlodar aluminum plant. The ESG project includes installation of modern disc filters and vertical calcination furnaces to significantly reduce atmospheric emissions. It also includes creation of a complex for production of rare metals used in semiconductors, optoelectronics, and medical diagnostics. The plant's capacity is planned to increase to 1.7 million tonnes of alumina per year.

Renewable Energy Financing

Development Bank of Kazakhstan signed a credit agreement with German state development bank KfW for up to $200 million. The loan is guaranteed by the Multilateral Investment Guarantee Agency (MIGA) and will finance renewable energy projects. This is the first joint transaction between Development Bank of Kazakhstan and KfW, the first direct KfW project in Kazakhstan, and the first joint KfW-MIGA transaction globally. The first project financed by these funds will be construction of a 1 GW wind power station with a 300 MW / 600 MWh BESS energy storage system near Mirny village in Zhambyl region. After commissioning, the wind farm will generate about 4 TWh of electricity annually.