Uzbek mining, smelting enterprise becomes "CIS Business Leader"
Baku, Azerbaijan, March 26
By Fakhri Vakilov – Trend:
The Almalyk Mining and Metallurgical Complex (AMMC) of Uzbekistan received the honorary "CIS Business Leader" award in 2018 at the International Economic Forum "CIS: Digital Economy - Integration Platform", Trend reports via Uzbek media.
The event was organized by the CIS Economic Development Business Center with the support of the Executive Committee of the Commonwealth of Independent States. More than 1500 delegates from 32 countries took part in it.
Sergey Larionov, Director of the Central Repair and Mechanical Plant of AMMC, took part in the forum as part of the Uzbek delegation. Sergey Lebedev, the Chairman of the Executive Committee, Executive Secretary of the CIS presented the honorary award to him.
The plant received an award for the results achieved in 2018 on increasing production volumes, increasing growth rates, modernizing and reconstructing production.
"Currently, AMMC is carrying out large-scale work on the modernization and reconstruction of production, numerous investment projects are being implemented, aimed at increasing production volumes, reducing production costs, and increasing export potential. All this work has been noticeably intensified with the transfer of the state share to the trust of a foreign company "SFI Management Group" Sergey Larionov said.
Almalyk Mining and Metallurgical Complex is the only copper producer in Uzbekistan. The company produces refined copper, zinc metal, molybdenum, lead concentrate and other products.
AMMC accounts for about 90 percent of silver production and 20 percent of gold in the country. Since August 2018, the state share in the enterprise has been transferred into trust management of a foreign company SFI Management Group.
In 2018-2025, the plant plans to implement seven investment projects with a total value of over $663 million.
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