Tashkent, Uzbekistan, Apr. 20
By Demir Azizov– Trend:
A consortium of China Coal Technology & Engineering Group Corp. (CCTEG) and China Railway Tunnel Group Co., Ltd. (CRTG) will implement a project to modernize capacities of Uzbekistan’s Shargunkumir JSC, a representative of Ozbekkomir JSC, the Uzbek enterprise for coal and kaolin production, told Trend Apr. 20.
Shargunkumir JSC owns a license for the development of the Baysun and Shargun coal fields (Surxondaryo region, south of Uzbekistan).
Implementation of the project worth $101.5 million will begin in the second half of 2017 and should be completed within three years, the source said.
Financing will be carried out through $89.8 million loan of the Export–Import Bank of China (China Exim Bank) and the own funds of the Shargunkumir JSC, the source noted.
The source in the Ozbekkomir JSC said that the investment project “Modernization of Shargunkumir JSC with bringing the design capacity to 900,000 tons of coal per year” with the participation of the Chinese consortium was approved by the decree of the Uzbek president.
The project provides for the modernization of capacities at the Baysun and Shargun coal fields with total explored reserves in the volume of 82.2 million tons. In 2015, Shargunkumir JSC produced there 124,000 tons of coal at a design capacity of 150,000 tons per year.