Recently, the editorial board of the FBRC, as part of its "How IFC-Controlled Enterprises Were Bankrupted" section, wrote about the unique tyre recycling and processing plant Kazakhstan Rubber Recycling LLP.
FBRC founder Kirill Pavlov went to have a look at what was once a promising domestic enterprise.
As a reminder, the targeted actions of Investment Fund of Kazakhstan JSC (IFC) and Development Bank of Kazakhstan JSC (DBK), ROP Operator LLP and a number of state bodies led to the bankruptcy of the capital's plant.
Today it looks more like ruins: one of the walls has collapsed, and the territory of the once profitable enterprise is fenced off. However, there are still chances to revive the former production. A public figure has proposed three ways to solve the problem.
"1. Put the property up for auction at the value stated in 'Baiterek' and wait for investors from the world of pink unicorns and flying ponies, who will buy it, invest, and launch production. In reality, they'll later sell the equipment for scrap metal.
2. Try to launch the plants and manage them using the quasi-public sector. Most likely, this will be spectacular but short-lived, leading to further bankruptcies and jail sentences.
3. Return the plants to their former owners, who guarantee they will launch production and the enterprises will operate. The ex-owners are even ready to buy back their own enterprises. This is probably the only option that stands a chance.", wrote the public figure on his Telegram channel.
The journalist notes that the deliberate bankruptcy of the enterprise shows how 'human baseness' can border on plain stupidity.
"The only question is what we want from these enterprises - for the plants and production to work, or a house in London for the daughter's coming of age and vineyards in France? If reviving production is important to us, the answer is obvious.".
As a reminder, the former owners of the ruined enterprises controlled by the IFC previously sent a letter to the President asking for help to regain their investment assets.