Tashkent, Uzbekistan (UzDaily.com) — Navoi Mining and Metallurgical Combinat (NGMK) has signed a loan agreement worth US$150 million with Mitsubishi UFJ Financial Group, Inc. (MUFG).

The funds will be allocated to implement projects included in the company’s investment program.

According to NGMK, the financing will be used to increase processing capacities, boost production volumes, create new jobs through the development of deposits, launch new production facilities, and modernize existing ones.

MUFG, one of the world’s largest financial groups, was founded more than 360 years ago and is headquartered in Tokyo. It operates a global network of approximately 2,000 branches in over 40 countries and has around 120,000 employees. The group provides a wide range of financial services, including commercial and trust banking, securities operations, credit cards, consumer finance, asset management, and leasing.