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Finance 18/11/2009 NBU finances largest investment projects in Uzbekistan
NBU finances largest investment projects in Uzbekistan
Tashkent, Uzbekistan (UzDaily.com) -- National Bank for Foreign Economic Activity of Uzbekistan (NBU) reviewed large investment projects and opened for financing credits for US$314.6 million and 286.2 million euros and 1.6 billion soums this year (as of 1 November 2009).

Currently, NBU credits almost all sectors of economy of Uzbekistan, including transport and communication, oil and gas, etc.

Uzbekistan Havo Yollari is one of the beneficiaries. The bank opened financing for US$41.3 million to the reconstruction and modernization of Navoi city airport (II phase). The reconstruction will allow airport to receive and serve any type of airlines, including planes of foreign airlines.

NBU signed a credit agreement for US$1.2 billion to realize of project “Modernization and unification of aircraft fleet of Uzbekistan Havo Yollari”. This year, the bank opened financing for U$69.6 million to realize the first phase of the project “Purchase of six A-320-200 airplanes and one engine”.

The bank is also financing project of Uzbekistan Temir Yollari on purchase of 15 passenger electric locomotives of Chinese production with total loan demand for US$70.1 million.

NBU also serves as financial agent on the project on construction of railroad Tashguzar-Boysun-Kumkurgan with credit volume of US$151.5 million.

The bank said it is opened financing to Uzbekenergo project on modernization of Navoi thermal power station with constriction of combined-cycle plant and construction of high voltage line Guzar-Surkhan and autotransformer at Surkhan substation with total credit need of US$427 million.

Largest bank of Uzbekistan also finances mining industry of the country, including oil and gas complex. NBU is financing modernization of drilling feet of Uzbekistan. The bank allocated US$177.6 million to Uzbekneftegaz to get drilling equipment and 3D seismic exploration complex.

Besides, the bank is financing project “Construction gas dewatering at Kungrad compressor station” and “Construction of gas pipeline Ahangaran-Pungan through Kamchik passing” with total credit demand for US$99.9 million. The bank is also planning to open financing of construction of propane-butane mixture equipment at Mubarek gas processing plant to increase production of liquefied gas. Total credit demand is US$190.39 million.

NBU is also financing reconstruction of pump stations Raish-Hakent-1, Ulugnar and Gulbakhar 1K in Andijan region and others.

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