Tashkent, Uzbekistan, Apr. 4
By Demir Azizov – Trend:
Russia’s Gazprombank and Uzbekistan’s Asaka Bank signed an $88 million agreement to finance the construction of a metallurgical plant, with a total project cost of 280 million euros, in Tashkent, the Uzbek bank told Trend.
The agreement was signed in anticipation of Uzbek President Shavkat Mirziyoyev’s visit to Russia.
Construction of the metallurgical plant, with a design capacity of 500,000 tons of cold rolled sheet products, including 200,000 tons of coated cold rolled sheet products, is scheduled to begin in 2017. The construction of the plant is planned to end in 2019.
The project is planned to be financed through a $100 million loan from the Fund for Reconstruction and Development of Uzbekistan and other resources in addition to the funds from Gazprombank.