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Uzbekistan allocates loan for cement plant construction

Business Materials 14 August 2012 18:12 (UTC +04:00)
Reconstruction and Development Fund of Uzbekistan has allocated a loan to Almalyk Mining and Metallurgical Complex (AMMC, Tashkent region) in the amount of $74.2 million to build a cement plant worth $114.2 million, a source in the government circles of the republic told Trend on Wednesday.
Uzbekistan allocates loan for cement plant construction

Uzbekistan, Tashkent, Aug. 10 / Trend D.Azizov /

Reconstruction and Development Fund of Uzbekistan has allocated a loan to Almalyk Mining and Metallurgical Complex (AMMC, Tashkent region) in the amount of $74.2 million to build a cement plant worth $114.2 million, a source in the government circles of the republic told Trend on Wednesday.

As previously reported byTrend, in July AMMC and Turkish Dal Teknik Makina Ticaret Ve Sanayi AS signed a contract to build a cement plant in Jizzakh region with a design capacity of 350,000 tons of white and 760,000 tons of Portland cement.

The project with the participation of Turkish company was approved by the Decree of President Islam Karimov.

It will be financed, in addition to the loan from the Fund for Reconstruction and Development of Uzbekistan, by equity of the AMMC at $40 million.

The Uzbek government has also provided a number of customs and tax privileges under this project to AMMC and Dal Teknik Makina.

As previously reported, the contract with the Turkish company worth $97.6 million was signed for the development of technological documentation, supply and installation supervision, construction and installation and commissioning work on a turnkey.

In turn, the AMMC will implement the construction of industrial infrastructure and other works to the sum of $16.6 million.

JSC Uzstroymaterialy will provide the enterprise with technical support for the project (it consists of companies producing building materials in the country). The project is scheduled to be implemented in 2012 - 2014.

According to AMMC experts, commissioning of the plant will fully cover the needs of the complex in cement and send up to 200,000 tons per year for domestic and export markets.

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