Steppe Cement to get tax breaks, Kazakhstan

Karcement JSC, a subsidiary of AIM-listed Steppe Cement Ltd, has been given a five year tax exemption by Kazakhstan when it begins work on refurbishing dry kiln lines in 2006 and 2007.  
 
The tax incentives will allow work to go ahead at a faster rate, with Karcement able to produce an additional 2.4Mt of cement a year. The tax exemptions have been finalised and will expire on 31 December 2012.  
 
Karcement are looking to further decrease costs with exemption from VAT on imported materials, and are in talks with officials. They will inform the market if a deal is finalised.