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Economy 27/01/2011 NGMK to implement 35 projects for US$1.803 bn in 2011-2020
NGMK to implement 35 projects for US$1.803 bn in 2011-2020
Tashkent, Uzbekistan (UzDaily.com) -- Navoi Mining and Metallurgy Combine (NGMK) is planning to realize 35 projects with total cost of US$1.803 billion in 2011-2020.

The plant will realize 26 projects within the programme on priorities of industrial development of Uzbekistan for 2011-2015. Total cost of these projects is US$1.152 billion, of which US$660.4 million will be directed to new constructions and US$491.7 million to modernization and reconstruction.

In line with the programme, NGMK will invest US$1.113 billion of own resources and will attract loan of Fund for Reconstruction and Development of Uzbekistan (FRDU) for US$38.3 million.

At the same time, the volume of investments in 2011-2015 will make up US$777.8 million, of which 492.2 million will be directed for new constructions and US$283.6 million to modernization and reconstruction.

In particular, the combine will complete construction of mining-metallurgy plant at the joint resource base of gold ore fields Kokpatas and Daugyztau (second phase) with the cost of US$136.6 million and mining complex at the base of mining complex at Gujumsay field of Zarmita gold ore zone (second phase) for US$189 million. The volume of investments in 2011-2012 to these projects will make up US$86.9 million and US$96.5 million respectively.

In 2013-2015, NGMK will implement project on construction of mining complex at the base of Promejutochnoye field of Zarmita gold ore zone (third phase). The combine will direct US$15.7 million.

One NGMK project was included to list of new investment projects in industry, which are under development now. The cost of the project makes up US$74.3 million, of which US$44.3 million will be own resources and US$30 million – loan of FRDU.

Within the project, NGMK plans to construct the plant on production of sulphuric acid with the capacity of 500,000 tonnes a year.

Eight projects of NGMK with preliminary cost of US$577 million were included to the list of perspective investment projects in industry, which are in preliminary development stage. The resources for US$187 million (4 projects) will be directed to new construction and US$390 million (4 projects) for modernization and reconstruction. The projects will be implemented in 2015-2020.

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