BAKU, Azerbaijan, Oct. 23
By Klavdiya Romakayeva - Trend:
The launching of the Tashkent Metallurgical Plant (TMP) will reduce the import of metallurgical products to Uzbekistan, Trend reports via spot.uz.
The construction of the Tashkent Metallurgical Plant began in 2017 on the basis of the decree of the President of Uzbekistan "On measures to implement the investment project on construction of the Tashkent Metallurgical Plant".
TMP is of great strategic importance for Uzbekistan. Putting it into operation will reduce the import of metallurgical products and significantly increase its industrial potential.
The launch of the plant will contribute to the development of related industries such as the construction sector, automotive, household appliances, and others.
The total project cost is €326,697 million, of them, own funds of the project initiator, amounting €147 million euros, loan of €164.5 million from Russian Export-Import Bank OJSC and €97.4 million from Uzbek Bank Asaka.
The production capacity of TMP will amount to 500,000 tons of organic products per year.
The project will create 672 permanent jobs.
After the plant reaches full capacity, 20 percent of its production will be exported to Iran, Turkey, Afghanistan, Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Ukraine, Latvia, Lithuania, and Estonia.
The launch of the project is planned for December 2020.
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