VEB.RF finances supply of Belarus mining dump trucks to Uzbekistan

Uzbekistan Materials 17 March 2021 17:45 (UTC +04:00)
VEB.RF finances supply of Belarus mining dump trucks to Uzbekistan

BAKU, Azerbaijan, Mar. 17

By Klavdiya Romakayeva - Trend:

The Russian State Development Corporation (VEB.RF) fully financed the supply of mining dump trucks produced by Belarusian BELAZ OJSC to Uzbekistan, Trend reports with reference to the press service of VEB.RF.

It is reported that mining dump trucks with a capacity of 220 tons were delivered to Uzbekistan for the modernization of Almalyk mining and metallurgical plant.

It is noted that the loan agreement between Almalyk MMC and VEB.RF was signed in December 2020 and the approved amount of financing from VEB.RF accounts for $59 million, while the term of the loan is up to five years.

In addition, VEB.RF noted that Almalyk MMC is one of the largest enterprises for the extraction of copper, gold, and silver in Central Asia.

Furthermore, as part of the modernization of the enterprise, in addition to the supply of dump trucks, at this stage, a separate credit line of up to 1.8 billion rubles ($27.4 million) is also envisaged to finance the supply of Russian mining equipment.

“The financing of this transaction became possible thanks to the current Agreement between the government of Belarus and VEB.RF. The agent of the government of Belarus subsidizes the interest rate of VEB.RF is Bank BelVEB (VEB.RF Group),” the message said.


Follow the author on Twitter: @romakayeva