Tashkent, Uzbekistan, July 31
By Demir Azizov – Trend:
Uzbekistan plans to get additional loans from foreign banks in the total amount of $137.36 million under a government guarantee to finance three investment projects at Navoiazot OJSC, the country’s biggest chemical plant producing mineral fertilizers.
It is planned to get a loan of 2.5 billion Japanese yen (equal to $21.74 million) from a consortium of Japanese banks led by the Bank of Tokyo Mitsubishi UFJ, and a loan of $115.62 million from Germany’s Commerzbank AG and Switzerland’s Credit Suisse.
Navoiazot plans to implement a project to build a complex, worth a total of $501.1 million, for production of polyvinyl chloride, caustic soda and methanol. The complex’s design capacity will be 100,000 tons of polyvinyl chloride, 71,800 tons of caustic soda and 295,400 tons of methanol per year. The general contractor is China CAMC Engineering Co., Ltd.
Another project, worth $985.7 million, envisages the production of 660,000 tons of ammonia and 577,500 tons of urea per year. The project is implemented by Mitsubishi Heavy Industries and Mitsubishi Corporation.
The third project, which envisages the production of nitric acid, is worth a total of $216.67 million, and has a design capacity of 500,000 tons of non-concentrated acid per year. The general contractor is Switzerland’s Casale SA.
Additional funds in the amount of $137.36 million are raised for the timely and high-quality implementation of these projects.
Navoiazot OJSC was commissioned in 1964 and is specialized in the production of nitrogen fertilizers, as well as organic synthesis products.