Baku, Azerbaijan, Oct. 3
By Fikret Dolukhanov – Trend:
A new casting and rolling complex will be built on the territory of the Uzbek Metallurgical Plant (Uzmetkombinat) by 2020 as part of a project to expand the plant’s production capacity, the press service of the Uzbek company told Trend on Oct. 3.
According to the information, Uzmetkombinat will be able to produce an additional 700,000 tons of flat rolled metal as a result of the project implementation. The company will open 300 additional jobs.
By the end of 2018, projects on production of ferrosilicon, ferrosilicon manganese, and rolled wire should also be implemented on the territory of the metallurgical plant. It is also planned to modernize the foundry and metallurgical equipment.
The projects will provide for additional import substitution thanks to production of 30,000 tons of rolled wire, 6,000 tons of ferrosilicon and 2,000 tons of ferrosilicon manganese.
During the implementation of these projects, $12.34 million capital investments were used.
Earlier, the founder and co-owner of USM Holdings, well-known Russian businessman of Uzbek origin Alisher Usmanov talked about his plans to invest in projects in Uzbekistan in an interview with the TV channel Russia 1.
Speaking about business projects in Uzbekistan, Usmanov, first of all, noted the Uzbek metallurgical complex.
“I will help only in business. The companies I own, where I am a shareholder, will definitely help cooperation in every way. That's how we do it with the Uzbek metallurgical complex. For us, this is a sales market, and for the complex – excellent quality of raw materials, which gives it the opportunity to produce a competitive metal for supply for the purpose of subsequent use,” he said.
Usmanov said the Metalloinvest Management Company LLC (Russia’s biggest iron producer) has already been supplying its products to the Uzbek metallurgical complex for about two or three years.
“We supply a serious volume, up to $100 million a year. We supply hot-briquetted iron,” Usmanov said.
---
Follow the author on Twitter: @FDolukhanov
