BAKU, Azerbaijan, Oct. 2
By Fakhri Vakilov – Trend:
The Russian Export Center (REC) Group will finance the investment program of Uzbekneftegaz to increase geological exploration and drilling operations, Trend reports referring to the REC press service.
The signing of the memorandum took place at the Economic Forum of Uzbekistan-2021 in Tashkent.
According to the Memorandum of Understanding, members of the REC group Roseximbank JSC and the Exar insurance agent will provide financial support for the export of Russian pipe products and oil and gas engineering in the amount of up to 30 million euros. The supplies will be carried out within the framework of the investment program of Uzbekneftegaz to increase exploration and drilling operations.
The Russian Export Center is a Russian institute for the support of non-resource exports, which unites several large companies. REC is part of the state corporation VEB.RF, which implements a number of investment projects in Uzbekistan.
Thus, Uzbek Ministry of Finance signed a loan agreement with VEB.RF for 146 million euros for the modernization of 95 pumping stations in the regions of the country. VEB.RF also allocated loans for the purchase of new cars for the Tashkent metro and a tranche for the purchase of special equipment for the Uzbek leasing company JV Kamaz Asia Leasing LLC.
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