Uzbekistan, Tashkent, April 12 / Trend, D. Azizov /
The Uzbek Metallurgical Plant (Uzmetkombinat JSC in Bekabad, Tashkent region), which accounts for 90 percent of the steel production in the country, increased steel output by 0.1 percent up to 176.6 thousand tons in January-March 2013 compared with the same period in 2012, according to a report released by the plant on Friday.
According to the report, production of ferrous metals by the plant in the first quarter increased by 1.5 percent to 169.8 thousand tons. The growth rate of marketable products at comparable prices to the corresponding period in 2012 was at 0.2 percent.
As reported, Uzmetkombinat JSC increased steel production by 0.4 percent to 736.3 thousand tons in 2012 compared to 2011.
Uzmetkombinat is the only company in the Central Asian steel industry that works with scrap metal. The plant accounts for 90 percent of steel production in the country. The plant was commissioned in 1956. It uses previously recycled scrap metal delivered from all republics of Central Asia. Currently, it uses scrap generated in the country, as well as raw materials, purchased outside the country under the tolling agreement.
Plant capacities are designed to produce 790,000 tons of steel, 760,000 tons of special metal-roll.
The company's authorized capital stands at 114 billion Soums. Some 71.91 per cent of its shares are owned by the state, 10 per cent by the labor collective and 2.65 per cent by minority shareholders. The Uzbek National Bank for Foreign Economic Activity, Promavtoinvesttorg, Navoi and Almalyk own 15.44 per cent of the shares.
As reported earlier, Uzmetkombinat implements a production development and modernization program worth $134.7 million in 2011-2015. The program's implementation will increase the enterprise's steel production capacity by 100,000 tons up to 850,000 tons, processed scrap metal by 290,000 tons up to 670,000 tons and reduce the enterprise's energy consumption by 20 percent by 2016.
The official exchange rate on April 12 is 2049.18 soum / $ 1.