BAKU, Azerbaijan, July 24. Uzbekistan's steel producer Uzmetkombinat discussed financing options for strategic investment projects with representatives of J.P. Morgan during a meeting in New York, focusing on long-term funding, capital markets and raw material development.
This was reflected in the statement by the Uzmetkombinat Chairman and Chief Executive Officer Bahodir Abdullayev.
Uzmetkombinat Chairman and Chief Executive Officer Bahodir Abdullayev and Deputy Chairman Hasan Haydarov met with officials from the U.S. investment bank on July 24 to review financing opportunities for the company's investment program, according to the company.
The talks centered on securing funding for strategic projects aimed at ensuring a stable supply of raw materials for the steel producer. Particular attention was given to the Tebinbulak mining project, which the company considers a key element of its long-term raw material strategy.
"During the meeting, the parties discussed financing for strategic investment projects aimed at ensuring a stable supply of raw materials for Uzmetkombinat's production operations. Particular attention was given to the prospects for implementing the Tebinbulak project, which is considered key to strengthening the company's raw material base." the statement said.
The sides discussed potential financing mechanisms for the projects, including raising capital through international financial markets, the use of modern financial instruments and opportunities for establishing long-term cooperation.
Uzmetkombinat also presented its broader investment program, outlining plans to expand production capacity, strengthen the stability of raw material supplies and diversify sources of financing to support future growth.
At the conclusion of the meeting, the parties agreed to continue discussions on prospective investment projects and explore optimal financing models to support their implementation, while expressing readiness to develop a mutually beneficial long-term partnership, the company said.
The Tebinbulak project is expected to play a central role in strengthening Uzmetkombinat's raw material base and supporting the company's expansion strategy. As part of its broader transformation program, the company has been seeking to diversify funding sources, improve corporate governance and increase its access to international capital markets.
The meeting reflects Uzmetkombinat's ongoing efforts to secure international financing for large-scale investment projects as it pursues capacity expansion and greater integration into global financial markets.
