BAKU, Azerbaijan, Feb. 16
By Klavdiya Romakayeva - Trend:
Uzbekistan will implement projects focused on organizing the production of new chemical products with high added value through the efficient use of the existing raw material base, Trend reports referring to the national legal information portal.
According to the information, the president of Uzbekistan approved new deadlines for investment projects in the chemical industry to be accelerated. The presidential decree provides a list of investment projects aimed at diversifying production at chemical enterprises in the next five years.
The list includes 16 projects with a total value of $1.176 billion. According to the reports provided, these funds will be formed at the expense of foreign direct investment in the amount of $700 million, bank loans for $389.9 million, and own funds of enterprises, the total amount of which is $86.1 million.
It is reported that nine of these 16 projects, including the most expensive of them ($400 million), will be implemented on the basis of Navoiazot JSC. The total cost of initial investments in Navoiazot JSC will reach $1.133 billion. Seven out of nine projects of Navoiazot JSC for the production of various reagents and synthetic materials will use the same raw material, namely methanol.
It was noted that it is planned to attract foreign partners from Austria, South Korea, and the UK for the implementation of these projects.
It was also decided to accelerate the implementation of four chemical and technological projects from the Investment Program of Uzbekistan for 2021-2023.
Thus, it is planned to spend $323.1 million to finance these four projects. At the same time, about 62% of the total amount ($200 million) is allocated for the project to organize the production of melanin on the basis of Ferganaazot JSC. It is reported that the launch date for this project has shifted from December to September 2024.
Navoiazot JSC was a joint project of Uzbekistan and Mitsubishi worth almost $1 billion. Its construction lasted four years and was completed two months ago.
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