The President of the Republic of Uzbekistan Islam Karimov on 27 July signed a Resolution "On the Programme on modernization, technical and technological re-equipment of the enterprises of chemical industry for the period of 2007-2011".

The programme, prepared by Uzkimyosanoat (Uzbek chemical industry) state joint-stock company in conjunction with the Ministry of Economy, Ministry of Foreign Economic Relations, Investments and Trade of Uzbekistan, has been approved with the aim of further sustainable and balanced development of chemical industry, rational use of production capacities, introduction of effective energy saving and ecologically safe technologies, increase of manufacture of competitive export oriented and import substituting chemical products in 2007-2011.

Heads of Uzkimyosanoat and enterprises of the industry have been entrusted with personal responsibility for ensuring in full volume and established terms the achievement of target forecast parameters and implementation of the projects stipulated by the programme.

Uzkimyosanoat jointly with interested ministries and departments have two weeks to submit for approval to the Cabinet of Ministers the preliminary technical feasibility studies of investment projects "Reconstruction with elements of capital overhaul and renewal of production of AM-76 ammonia at Ferganaazot (Ferghana nitrogen) open joint-stock company" and "Reconstruction and modernization of large-capacity aggregate of AM-76 ammonia at Chirchik-based Elektrkimyosanoat (Electrical chemical industry) open joint-stock company".

Uzpromstroybank (Uzbek industrial construction bank) has been determined as refinancing bank on credits attracted for the implementation of these projects from foreign sources.

The Fund of Reconstruction and Development of the Republic of Uzbekistan shall envisage in 2007-2008 the co-financing of the abovementioned investment projects in accordance with the approved feasibility studies.

The presidential resolution exempted Ferganaazot and Elektrkimyosanoat until 1 June 2009 from payment of customs duties (except for customs legalization fees) on the basic technological and supplementary equipment (with normative set of spare parts) imported within the implementation of the aforesaid projects, technological equipment and spare parts, software, technical documentation according to the list approved by the Cabinet of Ministers of Uzbekistan.

Ministry of Economy, Ministry of Finance, Ministry of Foreign Economic Relations, Investments and Trade of the Republic of Uzbekistan annually when forming the State Investment Programme shall ensure inclusion of investment projects stipulated by the Programme on modernization, technical and technological re-equipment of the enterprises of chemical industry for 2007-2011, first of all having in view the utilization of new types of products, increase of the volumes of its export and import substitution.

The Coordination Council on implementation of large and strategic investment projects with participation of foreign investments has been allowed jointly with Economy Ministry and Uzkimyosanoat to introduce clarities and amendments in the Programme on modernization, technical and technological re-equipment of the enterprises of chemical industry for the period of 2007-2011, having in view the inclusion of new investment projects on creation of productions on manufacture of modern export oriented types of chemical products.

Source: UzReport.com