Uzbekistan’s Uzbekugol to realize projects worth $690M by 2022
Tashkent, Uzbekistan, March 9
By Demir Azizov– Trend:
Uzbekistan’s Uzbekugol JSC is planning to implement six investment projects worth $690.5 million in 2017-2021 in accordance with the program for development and modernization of the coal industry, the company’s management told Trend.
In particular, Uzbekugol intends to implement a $105.5-million project on modernization of the Shargunkumir JSC, which develops coal deposits in the Surkhandarya Region in southern Uzbekistan.
Also, it is expected to build a new mine with a preliminary cost of $165 million at the Angren brown coal field and a Nishbash mine worth $175.2 million in the Kashkadarya region of the country.
Meanwhile, $170.2 million will be used to purchase new mining equipment.
The projects will be financed through coal enterprises’ own funds amounting to $87.5 million, loans of local commercial banks worth $155.6 million, $68.7-million loans of Fund for Reconstruction and Development of Uzbekistan and China’s $378.7-million preferential loans, allocated for the Shanghai Cooperation Organization member states.