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Economy 27/01/2011 AGMK to invest US$798m to development of production in 2011-2015
AGMK to invest US$798m to development of production in 2011-2015
Tashkent, Uzbekistan (UzDaily.com) -- Almalyk Mining and Metallurgy Combine (AGMK) is planning to realize 15 projects in 2011-2015 with total cost of US$798 million.

The combine plans to realize 11 projects within the programme on priorities of industrial development of Uzbekistan for 2011-2015. Total cost of the projects makes up US$653.6 million, of which US$131 million will be directed to new construction and US$441.7 million to modernization and reconstruction, as well as US$51 million to other directions.

In line with the programme, AGMK will direct US$291.3 million of own resources and will attract US$237 million of loan from Fund for Reconstruction and Development of Uzbekistan (FRDU), as well as US$125.3 million of loans from commercial banks

At the same time, the volume of investments in 2011-2015 will make up US$484.5 million, of which US$127.7 million will be invested to new constructions and US$219.4 million to modernization and reconstruction, as well as US$37.4 million to other directions.

In particular, AGMK is planning to complete construction of sulfuric acid shop at copper-smelting plant with the cost of US$80.3 million. The shop capacity will make up 500,000 tonnes of sulphuric acid a year.

In 2013-2015, the combine will implement a project “Attracting to processing of off-balance moulded ores of Kalmakyr field” with the cost of US$44.7 million. The proect will allow AGMK to processes up to 4 million tonnes of ore.

AGMK is planning to reconstruct department on crushing and pounding of copper concentrating plant. The project cost makes up US$218.6 million, of which US$193 million will be directed in 2011-2014.

In 2012, the combine plans to implement a project “Expanding and reconstructing Kalmakir mine” with the cost of US$123.3 million. In 2011-2012, the company plans to invest US$44.7 million to the project. Its implementation will have increase ore mining by 4 million tonnes.

AGMK will implement a project “Expanding and reconstructing Sary-Cheku mine”, which help to raise ore mining by 4 million tonnes. Total volume of investments to the project will comprise US$23.7 million.

AGMK is also developing three investment projects with total cost of US$124.4 million, of which US437.4 million will make up own resources and US$87 million – loans of commercial banks.

In particular, the combine will invest US$48.4 million to the project “Construction of underground mine at Kayragach field” and US$60 million to the project “Construction of lead plant”. The first project will help to mine up to 80,000 tonnes of ore, while the second will help to produce 15,000 tonnes of lead.

One AGMK project was included to the list of perspective investment projects in industry, which are in preliminary development stage. Within it, the combine plans to reconstruct zinc plant. Preliminary cost of the project is US$20 million.

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