MetProm develops project for Uzmetkombinat
21/08/2017 19:14
MetProm develops project for Uzmetkombinat
21/08/2017 19:14
Tashkent, Uzbekistan (UzDaily.com) -- The Russian company MetProm will develop a project to upgrade production capacity of Uzbek Metallurgical Plant JSC (Uzmetkombinat) with the cost of almost US$550 million.
RIA Novosti agency reported quoting the representative of Uzmetkombinat, till the end of September 2017, Uzbekistan will receive the project for consideration.
The agency noted that Uzbekistan and MetProm will continue negotiations on further stage of cooperation following the results of the project development.
The project will be implemented in two phases in 2017-2020. The project envisages construction of two steelmaking (800,000 and 1.12 million tonnes) and two steel processing furnaces. A casting and rolling complex (1.07 million tonnes) will also be built.
The project will allow the plant to increase production of rolled metal by 2.1 times compared to 2016 - up to 1.5 million tonnes by 2020 and up to 2.5 million tons by 2022 due to the development of new types of hot rolled products.
It is expected that the project will be financed through loans and loans, as well as foreign direct investment.
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