BAKU, Azerbaijan, November 11. Uzbekistan’s Navoi Mining and Metallurgical Combine (NMMC) JSC signed a memorandum of cooperation with Eurasian Development Bank (EDB) which includes preliminary indicative conditions for financing, the public relations director at NMMC Kholmamat Raupov told Trend.
“The funds attracted within the cooperation with EDB will be used to implement the NMMC's investment program for 2022-2026 which is aimed at increasing production capacity, production efficiency and developing promising deposits,” Raupov said.
According to him, NMMC plans for 2017-2026 to implement 27 projects for the modernization of existing and construction of new production facilities with a total value of more than $3 billion. Their implementation will increase the production capacity of the enterprise by 30 percent.
Recently, NMMC attracted a loan from an international consortium of banks in the amount of $1.2 billion for the implementation of the investment program. The consortium of banks included US JPMorgan Chase and Citi, French Societe Generale, Swiss Credit Suisse, Chinese ICBC Standard, Kazakh Halyk Bank and German Deutsche Bank.