Uzbekistan, Tashkent, Dec. 14 / Trend D. Azizov /
"Ferghanaazot" is the largest nitrogen fertilizer producing enterprise in Uzbekistan. It will start implementing a project on reconstruction and modernization of the carbamide and ammonium nitrate production with a total cost of $ 55 million in early 2012, Uzhimprom company told Tend today.
It is planned to increase production capacity by 1.5 times, carbamide production up to 30,000 tons, ammonium nitrate - up to 62,000 tons, ammonia - 50,000 tons, nitric acid - up to 50,000 tons.
The project is planned to be financed through the company's own funds to the amount of $9 million, the credit of the Uzbek Fund for Reconstruction and Development - $ 24 million and loans of Uzbek banks totaling $ 22 million. The project implementation period is 2012-2014.
Ferghanaazot is the largest enterprise in Uzbekistan for the production of nitrogen fertilizer and it was commissioned in 1956. Currently, the plant is the largest chemical enterprise for the production of ammonium nitrate and carbamide.
The Uzbek government tried to sell 51 percent of shares in the company with a starting price of $ 52 million and investment commitments of $ 55 million in late 2008.
The official exchange rate is 1787,54 soums per $1.