Revenues of Uzbek dry-process cement plant increase
BAKU, Azerbaijan, Sept. 15
By Klavdiya Romakayeva - Trend:
The net profit of Kyzylkumcement JSC increased in January through June 2020 compared to the same period last year in dollar terms by 70.9 percent and reached $20.3 million, Trend reports referring nuz.uz.
The revenue of the largest dry cement production enterprise in Central Asia increased over the reporting period by 12.4 percent and amounted to $97.1 million, capitalization decreased in the first six months of this year by 1.8 percent to $172 million, and assets increased by 0.6 percent to $181.6 million.
The main raw material base of Kyzylkumcement JSC contains industrial reserves of 113.8 million tons of limestone and 96.8 million tons of shale at the Navoi field, 30.2 million tons of diabase-pyroxenite at the Tillatyag field, 6.04 million tons of gypsum at the Karnabskoye field.
By the end of this year, Kyzylkumcement intends to build the fourth technological line for the production of clinker worth $112.6 million. The project will be financed from the company's own funds in the amount of $92.2 million and a loan from Hamkorbank JSCB the largest bank of Uzbekistan with foreign capital in the amount of $19.8 million.
To date, the authorized capital of Kyzylkumcement JSC has been formed in the amount of 702.6 billion soums ($68.2 million) through the placement of 447.5 million ordinary shares with a par value of 1,570 soums ($0.1525).
At the auction of the republican Toshkent Stock Exchange on September 15, the company's shares were traded in the range of 1910-2150 soums per share ($0.1855 - $0.2088).
The Navoi Cement Plant was founded in 1977 and reorganized into Kyzylkumcement JSC in 1994. Today the enterprise with a capacity of 3.5 million tons produces nine types of cement.
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