Uzbek plant to implement fastener production project till late 2018

Uzbekistan Materials 5 July 2017 20:18

Tashkent, Uzbekistan, July 5

By Demir Azizov– Trend:

Uzbek Metallurgical Plant JSC (Uzmetkombinat, Tashkent region) will implement a fastener production project worth $31.57 million for the machine-building industry till late 2018, according to Uzbek President Shavkat Mirziyoyev’s special order.

According to the document, published on the website of the presidential press-service, the technical and economic parameters of the investment project and the conditions for its implementation were approved.

The design capacity will reach 5,000 tons of fasteners (bolts, nuts and washers) per year.

The project financing scheme was also approved by the decree. The project will be financed at the expense of Uzmetkombinat's funds in the amount of $9.42 million, loans of the China Development Bank - $12.58 million, German Commerzbank - $6 million and Joint Stock Commercial Mortgage Bank of Uzbekistan - $3.55 million.

Following the tender results, contracts for the supply of equipment have been concluded between Uzmetkombinat and a number of companies, namely, Berkshire Establishment LLP (UK), Sytco AG (Switzerland), Inoxihp S.R.L. (Italy).

Uzmetkombinat is the only enterprise in Central Asia operating on metal scrap.