The Aktobe oil equipment plant, in which the well-known businessman Dinmukhamed Idrisov holds a significant stake, violated the terms of loan rate subsidisation from the state fund 'Damu'.
According to 'Nege.kz', last year the company's management took out a loan of 1.8 billion tenge from 'Halyk Bank' and arranged subsidisation of the loan rate.
'Thus, until 2028 – until the end of the loan term – the plant would have serviced its debt at 6% per annum instead of 21.75%. These are almost fairytale conditions, when your debt is being covered by the state. But Idrisov's company managed to mess up here too, and now the Damu fund has to terminate its contract with him', the statement reads.
It has also become known that 28.38% of the plant's shares belong to Dinmukhamed Idrisov's company, 'Ordabasy Group', while 28.90% of the shares are owned by his wife, Magda.
It is also reported that in 2022 the plant generated net income of 58.6 million tenge, and in 2023 net profit exceeded 491 million tenge.
Dinmukhamed Idrisov ranks 17th in the top 75 wealthiest businessmen in Kazakhstan, according to Forbes. The oligarch's fortune is currently estimated at around $530 million. Among other assets, he owns the company 'Kazakhstan Utilities Systems', which operates in Shymkent, and the Karaganda, Turkestan, Mangystau and East Kazakhstan regions.