Tashkent, Uzbekistan, Aug. 22
By Demir Azizov – Trend:
In 2017-2020, Uzbek Metallurgical Plant JSC plans to implement a project worth $550 million for the modernization and expansion of its production capacity, a source in the plant management told Trend.
The project for modernization of steel-rolling production will be implemented in two stages, according to the source.
The cost of the first stage, to be implemented in 2017-2019, is estimated at $50 million. The second stage, covering 2019-2020, will cost $500 million.
The project will be financed through local and foreign loans, as well as the plant’s own funds.
The source noted that, Russia’s Metprom Group is currently preparing a feasibility study for the project.
Uzbek Metallurgical Plant was commissioned in 1956.