Localization saves $2M in Uzbek mining, metallurgy sector(Exclusive)

Business Materials 27 September 2018 20:49 (UTC +04:00)

Baku, Azerbaijan, Sept. 27

By Fikret Dolukhanov – Trend:

Uzbekistan will save some $1.9 million by the end of 2018 thanks to implementation of the localization program in the mining and metallurgical sector, the Almalyk Mining and Metallurgical Combine (AMMC) told Trend on Sept. 27.

In line with the decree of the president of Uzbekistan covering 2017-2019, AMMC is implementing 32 projects for a total of 29 billion soums ($3.59 million).

“In recent years, the Angren Pipe Plant, a workshop for production of mining equipment, facilities for production of ZAMAK alloy, centrifugal and axial fans, cartridge explosives, zinc oxide (zinc white), etc. have been put into operation. As a result, in 1H2018, total amount of localized products reached 43.3 billion soums ($5.36 million),” AMMC said.

The AMMC representative noted that in order to reduce production costs in 2018, a set of organizational and technical measures has been developed and implemented, which will allow cutting production costs by 273.7 billion soums ($33.88 million).

It was earlier reported that the Navoi Mining and Metallurgical Combine and the Almalyk Mining and Metallurgical Combine are the top taxpayers in Uzbekistan.

The total share of the two plants in the budget revenues in 2018 is 8.1 percent, with the contributions of the Navoi MMC at 5 percent and the contributions of the Almalyk MMC at 3.1 percent.

(8079.28 UZS = 1 USD on Sept. 27)


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