Uzbek bank finances production of chipboard panels made of cane
Tashkent, Uzbekistan, Jan. 24
By Mammad Dashdemirov – Trend:
Uzbekistan’s Uzpromstroybank JSCB allocated a loan in the amount of $3.5 million for the construction of a complex for the production of chipboard panels made of cane in the country's Surkhandarya region, the bank's management told Trend.
The funds are allocated within the credit line of the China Development Bank. The total cost of the project is $6 million, of which $2.5 million will be allocated by the founders of SURXON KSP-GRAND LLC.
The modern equipment for the complex will be supplied by China’s Fujian Hada Intelligence Technology Co., Ltd. The complex is planned to be constructed in early 2019.
The annual production capacity of the complex will reach 150,000 cubic meters of particle board or $30 million in monetary terms, half of which will be exported to Afghanistan, Tajikistan and Turkmenistan.
Uzpromstroybank was established in 1922. The bank’s assets increased by 2.5 times up to 25.5 trillion soums in January-November 2017. The bank’s loan portfolio increased by 2.4 times up to 20 trillion soums, of which more than 80 percent accounted for the financing of investment projects.
(8,163.93 UZS = $1 on Jan. 24)