An investment project with a total cost of US$985.74 million is being implemented in Uzbekistan.

Tashkent, Uzbekistan (UzDaily.com) -- In pursuance of the Resolution of the President of the Republic of Uzbekistan "On measures to implement the investment project "Construction of ammonia and urea production at Navoiazot JSC” from 21 July 2015, Uzkimyosanoat JSC is implementing an investment project jointly with a consortium of Japanese companies Mitsubishi Heavy Industries, Ltd and Mitsubishi Corporation for a total cost of US$985.74 million, the press service of Uzkimyosanoat reported.

Led by the Minister of Energy of the Republic of Uzbekistan Alisher Sultanov a videoconference was held with the participation of Acting Chairman of the Board of JSC "Uzkimyosanoat" Mirzamakhmudov J.T., Ambassador Extraordinary and Plenipotentiary of the Republic of Uzbekistan to Japan Fazilov G.G., Vice President of Mitsubishi Heavy Industries, Ltd. Hiroetsu Suzuki and General Manager for EPC Projects of Mitsubishi Corporation Yasunori Sakamoto regarding the discussion of the implementation of the investment project.

During the negotiations, the Uzbek side noted that after gaining independence of the Republic of Uzbekistan, with the direct assistance of the Japanese side, a number of large investment and social projects were implemented, which brought trade and economic relations between Japan and the Republic of Uzbekistan to a new level. Also, it was emphasized that today the chemical industry is a priority main national industry, contributing to the economic growth of the well-being of the people of the Republic of Uzbekistan.

Given these circumstances, the joint implementation of an investment project to create a new production of ammonia and urea at Navoiazot JSC is a strategically important step for the development of bilateral cooperation.

As part of the negotiations, it was noted that the project has come to the final stage of completion. All technological equipment and assemblies were successfully delivered to the construction site and installed properly. However, due to the pandemic, there are currently difficulties in mobilizing responsible licensors from foreign countries with a difficult epidemiological situation. Despite this, the Japanese side assured that it would start mobilizing the necessary specialists from August this year.

In order to properly and successfully implement the project in the context of the coronavirus pandemic, the parties agreed to make every effort to complete the mechanical installation and commissioning of the main technological equipment and to put the ammonia and urea facility at Navoiazot into operation as soon as possible.