Uzmetkombinat increases steel production by 1.2 percent

Uzbekistan Materials 15 September 2011 10:30

Uzbekistan, Tashkent, Sept. 15 / Trend D.Azizov /

The Uzbek Metallurgy Combine (Uzmetkombinat), which accounts for 90 percent of the production of steel products in the country, increased steel production by 1.2 percent to 534,500 tons in January-August, as compared with the same period of 2010, the company said.

Rolled ferrous metal in the first quarter increased by 1.3 percent to 494,700 tons.

As was reported earlier Uzmetcombinat produced 717,400 tons of steel in 2010, which grows 0.1 percent year-to-year. The plant produced 691,600 tons of ferrous metals, which increased by 0.7 percent, including the production of section iron by 0.6 percent.

Uzmetkombinat was commissioned in 1956. Today it is the only ferrous metallurgy factory in Central Asia working with scrap metal. The company's authorized capital is 45.314 billion soum.

Some 71.91 percent of its shares are owned by the state, 10 percent by the labor collective and 2.65 percent by minority shareholders. The Uzbek National Bank for Foreign Economic Activity, Promavtoinvesttorg, Navoi and Almalyk also own shares.
The official exchange rate is 1741.78 soums to $1 on Sept.15.