Red Mountain Energy Corporation and AGMK signed a contract on modernization of oxygen station on “turnkey” basis with the cost of US$19 million.

Within the project, it is planned to install additional equipment, which will allow to increase production volume by 20% to 131.4 million cubic meters of tonnage oxygen a year.

AGMK will carry out construction works within the modernization project with its own forces. The project will be implemented within two years.

The project cost is US$26.2 million. Fund for Reconstruction and Development of Uzbekistan will issue loan for US$19 million and AGMK will direct US$7.2 million of own resources to the project.

The project is conducted within the modernization of copper-smelting capacities of the AGMK.