Uzmetcombinat increases steel production by eight percent
Uzbekistan, Tashkent, July 13 / Trend D. Azizov /
Uzmetcombinat is country's largest ironworks producer. The company increased steel production by 8.3 percent to 373,100 tons in January-May 2010 compared to the same period in 2009.
Ferrous metals production also increased by 8.2 percent to 357.200 tons.
The company increased steel production by 6.2 percent to 716.400 tons and rolled products by 6.9 percent to 687,100 tons in 2009.
Uzmetcombinat is the only ironworks company working with scrap metal in Central Asia. The plant was put into operation in 1956, and produces more than 95 percent of the steel and 100 percent of the ferrous metals in Uzbekistan.
The state owns 71.9 percent of the shares in the organization. The staff own a 10-percent stake. The Uzbek National Bank for Foreign Economic Activity, Avtosanoatinvestsavdo and the Navoi and Almalyk metallurgical combines own small shares.
According to a modernization program, roughly $49 million will be spent on modernizing the plant over the next five years.