BAKU, Azerbaijan, Sept. 30
By Fakhri Vakilov – Trend:
Russian VEB.RF corporation will allocate 146 million euros for the reconstruction of 95 pumping stations in five regions of Uzbekistan, Trend reports citing the press service of the Ministry of Finance of Uzbekistan.
The agreement was signed during the Uzbekistan Economic Forum 2021, taking place in Tashkent on September 29-30.
VEB.RF issued a loan for a period of 10 years at 2 percent per annum with a two-year grace period.
The total cost of the project is 213.5 million euros, of which 146 million is a loan from VEB.RF, and the rest of the amount will be provided by Uzbekistan.
The modernization of pumping stations will take place in Samarkand, Navoi, Bukhara, Kashkadarya and Surkhandarya regions.
As part of the modernization, general contractors will have to spend 70 percent of the borrowed funds on the purchase of pumps, electric motors, equipment, electrical devices and other types of products and services from Russian manufacturers, and 30 percent of the funds will be spent on the purchase of products from Uzbek manufacturers.
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