Investors discuss implementation of projects in fuel, energy, chemical sectors
21/07/2018 18:24
Investors discuss implementation of projects in fuel, energy, chemical sectors
21/07/2018 18:24
Tashkent, Uzbekistan (UzDaily.com) -- State Committee for Investments of Uzbekistan organized a second meeting of open platform for local and foreign investors, which was dedicated to fuel and energy complex, chemical, petrochemical, metallurgical and mining industry.
About 200 participants took part in the second meeting, among them foreign investors and entrepreneurs, operating in the fuel and energy complex, chemical production, petrochemistry, geology and metallurgy, representatives of state and economic management bodies.
In his opening speech, First Deputy Chairman of the State Committee of the Republic of Uzbekistan for Geology and Mineral Resources Azam Kadirkhodzhaev said that Uzbekistan is one of the world’s top ten leaders in reserves and resources of the most important types of minerals, such as gold, uranium, copper, potassium salts, phosphorites and kaolin. On the production of gold and uranium, the republic occupies one of the leading positions.
"The territory of Uzbekistan has been studied only by 20 percent, and accordingly, there is a huge potential to identify new deposits. According to experts, the cost of the mineral resource potential of the republic’s minerals in the bowels is about 5.7 trillion dollars, of which more than 1 trillion dollars is the value of the explored reserves and prepared deposits,” Azam Kadirkhodzhaev said.
He said that considering the data of considerable resources of the subsoil, having an appropriate regulatory framework that meets modern business requirements, the number of licenses issued to subsoil users, which create their own production, make a significant contribution to the development of Uzbekistan, respectively. As a result, in recent years, the State Committee for Geology has issued more than 1,200 licenses for the right to use subsoil plots.”
The participants also received information about measures adopted in Uzbekistan to improve regulatory and legal framework of investment climate.
Shavkat Nabiyev, deputy chairman of the board of Uzkimyosanoat, briefed the participants about the development of the chemical industry in the republic. At present, the Program for the Development of the Chemical Industry for 2017-2021 has been adopted with a view to further implementing measures for the deep processing of mineral resources, reconstruction and expansion of the existing chemical industry, increasing volumes and expanding the output of finished export-oriented chemical products. Within the program, it is planned to implement more than 40 investment projects worth US$4.7 billion. It is expected that this program will create new jobs for 3 thousand people.
During the presentation, Shukhrat Nabiyev announced successfully implemented investment projects of Uzkimyosanoat jointly with foreign companies. Thus, with the Chinese corporation CITIC Construction Co., Ltd on the basis of the Kungrad Soda Plant and the Dehkanabad potash plant, projects worth a total of US$742 million were realized over several years of cooperation.
The company realized a project on production of conveyor belts, agricultural and automobile tires with Poly Technologies in Angren worth US$214 million.
Uzbekistan is implementing projects for US$500 million with CAMC Engineering Co and China Huanqiu Contracting & Engineering Corporation on the production of PVC, caustic soda and methanol.
Mitsubishi Heavy Industries LTD and Mitsubishi Corporation are implementing project for production of ammonia and urea worth US897 million in Uzbekistan.
Shukhrat Sheraliev, Deputy Chairman of the Board of JSC Uzbekenergo presented information about development of investment cooperation. It wass noted that today 19 investment projects are implemented for a total of more than US$20 billion.
Uzbekenergo pays great attention to the issues of regional cooperation, including the involvement of the Republic of Afghanistan in regional processes. So, since 2002, Uzbekistan has supplied electric power to the northern part of Afghanistan (the cities of Kabul, Mazar-i-Sharif and Hairatan). In December 2017, an agreement was concluded with the Afghan side to supply 2 billion kWh of electricity for US$153 million in 2018, Shukhrat Sheraliev said.
He underlined that in order to meet the growing needs of the Republic of Afghanistan in the electric power industry, Uzbekistan has started construction of a new 500 kV high voltage transmission line "Surkhon-Puli-Khumri", with a length of almost 250 km and a project cost of US$150 million. The implementation of the project will increase the export of electricity to 8 billion kWh. "
According to the information of Uzbekneftegaz, more than half of the investments attracted to the economy of the Republic of Uzbekistan are in the oil and gas industry.
“To date, there are 265 oil and gas fields in the republic, 65 billion cubic meters of natural gas are produced per year. 60 billion cubic meters of them are processed at domestic refineries,” Ulugbek Sayyidov, the first deputy chairman of the board of Uzbekneftegaz, said in his speech. “Over the past 3 years, the volume of foreign investment in oil and gas projects is US$6.5 billion”.
Cooperation of Uzbekneftegaz with the largest oil companies such as LUKOIL, Gazprom, CNPC, KNOC, Sasol, Hyundai, Kogas and others is developing.
In his presentation, Ulugbek Sayidov also presented promising projects aimed at deep processing of hydrocarbons. He said that Uzbekistan works on launch of production of olefins using MTO technology, oils at Fergana oil refinery, processing of pyrolysis distillate, production of benzene, toluene and xylene (BTK), etc.
During the meeting, the participants discussed issues related to allocation of lands for investment projects.
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