Baku, Azerbaijan, Aug. 29
Trend:
President of Uzbekistan Shavkat Mirziyoyev has laid a symbolic first stone, kicking off the construction of a casting and rolling complex at the Uzbek Metallurgical plant.
The plant's own funds in the amount of $91 million, and the loans issued by the Russian "Gazprombank" JSC and the Switzerland’s Credit Suisse Group AG in the amount of $361 million will be used for the implementation of the project.
In total $452 million will be spent.
"The project is scheduled to be fully commissioned in 2020, which will allow for producing an additional 1 million tons of steel sheets per year and creating more than 400 new jobs. As a result, since 2021, the volume of production of finished products at the factory is planned to increase to 2.1 million tons annually. In addition, by reducing the import of rolling sheet it will be possible to save $350 million over the year," the press service of the president noted.
At the same time, the annual demand (500,000 tons) for hot-rolled sheet will be fully met. The Italian Danieli & C. Officine Meccaniche S.p.A. company will be engaged in the construction of the casting and rolling complex.
In total, within the framework of the program of development of the plant on the basis of innovative technologies in 2018-2020, the production of rolled metal will grow 2.3 times, steel balls - 1.5 times, exports - 1.9 times.