Uzbekistan, Tashkent, June 24 / Trend D.Azizov /
The Uzbek Metallurgical Plant (Uzmetcombinat) will implement a project to construct a new air separation plant by 2012, a Uzbek governmental source reported. The installation will provide the plant with 87.6 million cubic meters of oxygen, 8,8 million cubic meters of nitrogen and 1.05 million cubic feet of argon per year.
The project will cost an estimated $21 million and will be financed through Uzmetcombinat equity. The American Red Mountain Energy won the tender for basic equipment supplies.
Based on the project, the company will replace an outdated K5 N2 unit for air separation.
Uzmetcombinat was commissioned in 1956. Today it is the only ferrous metallurgy factory in Central Asia working with scrap metal.
The company's authorized capital is 45.314 billion soum. Some 71.91 percent of its shares are owned by the state, 10 percent by the labor collective and 2.65 percent by minority shareholders.
The Uzbek National Bank for Foreign Economic Activity, Promavtoinvesttorg, Navoi and Almalyk also own shares.
Uzmetcombinat increased its steel production by 6.2 percent in 2009 to 716,400 tons.
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