Uzpromstroybank, Chinese Eximbank sign loan agreement
Uzbekistan, Tashkent, June 11, Trend, D.Azizov /
Uzpromstroybank open joint stock commercial bank inked a loan agreement with China's Export-Import Bank on Wednesday, 9 June.
According to the document, the Chinese bank will allocate loan for US$113 million within the economic cooperation between Uzbekistan and China on the programme of crediting of the SCO member countries.
The loan will be directed at the modernization of Angren coal mine in Tashkent region. Total project cost is US$154.4 million.
According to Uzbekugol, Sino-coal International Engineering Design & Research Institute won a tender, announced within the project "Transfer of energy blocks No. 1-5 of Novo-Angren thermal power station to using coal (1 phase) with the modernization of Angrean coal mine". Uzbekugol and Chinese firm inked the contract on this project. Earlier it was reported that Uztransgaz, a subsidiary of Uzbekneftegaz in 2009-2013 plans to implement a project worth $237.4 million to modernize the gas distribution system worth $237.4 million.
In addition to the introduction of SCADA, Uztransgaz within the project is expected within three years to buy at the expense of its own funds 90 units of special equipment for the of the acquisition of linear-services of the company worth $ 160 million.
Modernization will provide a stable and accident-free gas supply in the region, given the growth prospects of natural gas consumers, the introduction of an automated accounting system and the regulation of the natural gas supply regime.
Uztransgaz controls the activity of transportation and delivery of gas in Uzbekistan through natural gas pipelines.
The total length of main gas pipelines in Uzbekistan is more than 13,000 kilometers.