BAKU, Azerbaijan, May 1
By Klavdiya Romakayeva - Trend:
Uzpromstroybank intends (Uzbek Industrial and Construction Bank) plans to open a credit line for $300 million for new projects in the construction sector, Trend reports referring to the press service of the president of Uzbekistan.
Overall, the projects are estimated at $5 billion.
The issue was discussed during a video conference on measures for the development of local industry in the regions was held under the chairmanship of the president of Uzbekistan.
According to the press service of the head of state, over the past three years, the volume of production of building materials in the country has increased by 1.5 times. However, the current volume and range of products still do not meet domestic demand. In 2020, nearly $1 billion worth of construction materials were imported.
It was noted that many houses, factories and enterprises, social facilities are being built in the country, which increases the demand for both building materials and products from related industries. In this regard, the meeting discussed issues of local industry development and production growth.
In addition, it was decided to allocate an additional 400 billion soums ($38 million) from the budget to improve infrastructure in these regions, and another 100 billion soums ($9.5 million) will be allocated for geological surveys.
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