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India to buy uranium in Uzbekistan

Business Materials 16 September 2013 14:24 (UTC +04:00)
During a visit of Indian Foreign Minister Salman Khurshid in Tashkent, deliveries of Uzbek uranium to India were discussed

Uzbekistan, Tashkent, September 16 /Trend, D.Azizov/

During a visit of Indian Foreign Minister Salman Khurshid in Tashkent, deliveries of Uzbek uranium to India were discussed, Indian media outlets reported.

According to the PTI Indian news agency, India intends to buy 2000 tons of uranium by 2014, and negotiations with the Uzbek government on purchase of uranium are about to be completed.

Currently, comments from the Uzbek side on the issue are not available.

As was reported, Uzbekistan is not a consumer of uranium products and all the produced uranium is exported. On reserves and production of uranium, Uzbekistan is among the top 10 countries in the world.

According to data from the State Committee of Uzbekistan on geology and mineral resources, explored and estimated uranium reserves in the country are 185,800 tons, with predicted reserves at 242,700 tons.

Since 1992, American Nukem Inc. had the exclusive right to export uranium mined by the Navoi Mining and Metallurgical Combine (MMC) which is the monopoly operator of mining, enrichment and export of uranium in Uzbekistan. According to the company's data, since 1992 Nukem has realised over 45, 400 tons of Uzbek uranium to foreign customers.

In February 2011, the Japanese Itochu Corporation and Navoi MMC signed a 10-year contract for a regular purchase of uranium for Japan's communal services.

Currently, India is one of the most important partners of Uzbekistan in the field of information technology, textile and light industry, pharmaceuticals, production of automobile parts.
According to official statistics, in 2012 Uzbek-Indian turnover increased by 22.5 per cent compared to 2011 at $201.2 million. At the same time Uzbekistan exported to India goods worth $37.8 million, a 1.7 times growth, whilst the import of Indian goods constituted $163.4 million, a growth of 15 per cent.

Over 60 enterprises were established in Uzbekistan with Indian capital including 10 which are wholly owned and there are accredited representations of about 20 Indian companies and organisations operating in different spheres of production and sale of pharmaceutical products.

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