Uzbekistan implements 43 projects in chemical industry
Baku, Azerbaijan, May 22
By Fakhri Vakilov – Trend:
The President of Uzbekistan issued a decree on the implementation of 43 investment projects in the chemical industry totaling $3.1 billion, Trend reports citing Uzbek media.
In particular, joint-stock company Navoiazot developed three large investment projects for the construction of the production of ammonia, carbamide, nitric acid, polyvinyl chloride (PVC), caustic soda and methanol. The work is carried out on the basis of specific programs.
Navoiazot, being the largest industrial manufacturing enterprise in Uzbekistan, is engaged in the production of mineral fertilizers and chemical reagents.
However, the technical equipment of the enterprise became outdated. In this regard, three large production projects will be realized in 2019 through foreign investments and credit lines in the amount of $455.7 million.
As a result, the company will get the opportunity to increase the types of mineral fertilizers, thus allowing for saving natural resources. Japanese partners including Mitsubishi Heavy Industries, Ltd. and Mitsubishi Corporation companies planned to launch the complex by 2020.
Today, the company employs 8,835 workers. In 2018, the joint-stock company produced goods for $182.58 million and the net annual profit amounted to $ 537,000.
As a result of the projects' implementation, 1,516 new jobs will be created. Equipped with modern technologies, these complexes will allow Navoi chemists to increase production, reduce the cost, and ensure its competitiveness.
Due to the increasing need for chemicals in the international arena, these projects are of great importance for the development of the chemical industry in Uzbekistan.
Follow author on Twitter:@vakilovfaxri