Falah Growth Fund was awarded a prize in nomination "Investment project in agriculture"

26.11.2013 21:34

Text of the b-roll is translated from Russian language

Elena Storchak / KTK (evening news)

A Special Award for a Special Company. The jury of the “Choice of the Year” national award has set a special nomination "Investment project in agriculture" for the Kazakhstan-UAE private equity fund. Falah Growth Fund was awarded a High Quality Mark for pulling of a major Kazakhstani enterprise from collapse. Elena Storchak in more details.

Let's recognize an outstanding result that people have done for a year what others would have done for 10 years.

One year for revival of production! Indeed, not everybody can achieve it. For the Kazakhstani Falah Growth Fund the special award from the “Choice of the Year” became a sort of “thanks” for creation of new jobs and high-quality product. 

David Herbada, the Chief Investment Officer of the Falah Growth Fund management company: 

- This award is the result of the efforts made by many people. The poultry farm that we invested in employs more than 150 persons. It is owing to them that the company managed the crisis situation and now we have opportunity to see and taste a real product.

The farm previously called Atlyn Ai now has been rebranded to Alsad Kazakhstan. Great debts, lack of sustainable suppliers, all of these factors – three years ago could lead the enterprise to bankruptcy.  Falah Growth Fund repurchased the farm and created a new company. Now a sustainable supplier is in place. Moreover, completely replaced and modernized equipment, highly professional personnel of the farm will secure production of more than 200 million eggs per year.  

David Herbada, the Chief Investment Officer of the Falah Growth Fund management company:

- Further, we want to expand the factory’s staff up to 250 persons. Our objective is to develop the company to a next level and increase its market value. As for the other projects and areas of interest, it should be mentioned, that we are interested in agricultural sector and food production. 

The company is also highly interested in mining industry, Oil & Gas sector, infrastructure projects and property. By the way, the factory became already the second successful project of the Fund. The first one is USD 50 million invested in Karaganda Energocenter LLP. Elena Storchak, Bolat Dauletbayev, KTK, Almaty.

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