BAKU, Azerbaijan, August 10. Uzbekistan's Uzmetkombinat and Chinese metallurgical company BAIGONG STEEL have signed a memorandum of cooperation covering the development of mineral deposits, steel production and other investment projects.
This was reflected in the statement by the Uzmetkombinat.
The agreement was reached during a visit to China by a delegation from Uzmetkombinat led by Chairman Bahodir Abdullayev, which held talks with BAIGONG STEEL's management on expanding cooperation in the metallurgical sector.
The sides discussed the development of the Tebenbuloq deposit in Karakalpakstan, Temirkon in Jizzakh region and Zakkan in Surkhandarya region, including the assessment of reserves and the introduction of modern technologies for mining and processing raw materials.
The companies also explored opportunities to strengthen Uzmetkombinat's long-term raw-material base and increase the production of new types of metallurgical products using locally sourced mineral resources.
"During the negotiations, special attention was paid to the issues of forming a long-term and sustainable raw material base of Uzmetkombinat through the development of these deposits, expanding opportunities for the production of new types of metallurgical products based on local resources," the statement said.
A separate focus was placed on expanding cooperation in the production of flat steel products. The parties discussed attracting advanced technologies and production expertise, expanding the product range and developing manufacturing of higher-value finished metal products.
Uzmetkombinat and BAIGONG STEEL also considered the potential introduction of blast furnace technology at the Uzbek company. The proposed approach would help establish an integrated production chain, from the extraction and processing of raw materials to the production of finished steel products.
The memorandum is expected to provide a framework for further cooperation on mining projects, flat steel production and other investment initiatives in Uzbekistan's metallurgical industry.
The agreement comes as Uzmetkombinat seeks to strengthen its resource base, expand domestic mineral processing and attract international technologies and investment into the country's metals sector.
