Uzbekistan to modernize its Mobiuz mobile operator

Finance Materials 7 April 2020 12:05 (UTC +04:00)
Uzbekistan to modernize its Mobiuz mobile operator

BAKU, Azerbaijan, Apr. 7

By Ilkin Seyfaddini – Trend:

Uzbekistan's Mobiuz mobile operator will undergo modernization, as part of the company's own funds and a 15-year loan from the China's Eximbank, Trend reports citing Uzbek media.

The Cabinet of Ministers adopted a resolution on modernization and expansion of communication systems of mobile operator Universal Mobile Systems LLC (TM Mobiuz) with participation of Export-Import Bank of China.

The document approves the main technical and economic parameters of the project. The total value of the project is $238.5 million, of which $127.5 million is the Chinese Eximbank's loan and $111 million is the company's own funds.

The contribution of Uzbekistan will be in the form of tax and customs privileges for $37.3 million. Chinese Huawei will also participate in the project.

Most of the money will be spent on purchase of machinery and equipment - $148.9 million. As a result, 2114 workplaces will be created, of which 586 will be new workplaces.

It is expected that the project will pay off in 98 months. The investment period is 45 months.


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