Uzbekistan, Tashkent, Jan. 15 / Trend D.Azizov /
Two major chemical plants in Uzbekistan - Maxam-Chirchik and Ferganaazot - completed production modernization worth $47.7 million, Uzkhimprom reported.
The country held the reconstruction and modernization of the AM-76 tonnage ammonia unit with a cost of $24.7 million at the Maxam-Chirchik Plant and also reconstructed a similar AM-76 unit at the Ferganaazot Plant.
The plant's modernization will increase production by 72.3 percent to 420,000 tons of ammonia per year and at Ferganaazot to 400,000 tons of ammonia per year.
The projects were funded by the Uzbekistan Reconstruction and Development Fund, the Fund for Development and Support of Ukhimprom and the plants's own capital, as well as loans from Uzbek and foreign banks.
The Maxam-Chirchik enterprise was put into operation in 1940. The company specializes in the production of ammonia, ammonium nitrate and urea. In 2007, the Spanish Maxam Corp. S.A.U. acquired 49 percent stake in OAO Electrokhimprom for $ 22 million with investment commitments of $ 55 million to be invested in the development of the company until 2012.
Ferganaazot Plant was commissioned in 1956 and is the largest enterprise of chemical industry of Uzbekistan for the production of nitrogen fertilizer - ammonium nitrate and urea. The company is fully controlled by the state.
Uzkhimprom reported that in 2009-2014, the company plans to modernize the industry worth $2.062 trillion. The modernization program included 12 pipeline projects worth $262.9 million and six promising projects worth $1.79 billion. The projects are expected to be financed by foreign investments and loans, as well as by Uzbekistan Reconstruction and Development Fund.
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