en.trend.az  

 

March 21, 2014

 

The Uzbek Reconstruction and Development Fund delivered a loan worth $ 22 million for a wire rod production project to the Uzbek Metallurgical Plant (Uzmetkombinat, Bekabad city, Tashkent region), a representative of the country's financial circles told Trend on March 17.

It was previously reported that the project worth $ 30 million envisages 8-10 millimeter wire rod production at a '300' mill of the rolling shop with the installation of a wire block with a design capacity of 100,000 wire rod annually.

Wire rod production is planned to be launched in the late 2014.  Uzmetcombinat is the only ferrous metallurgy plant in Central Asia working with scrap metal. It was commissioned in 1956 and accounts for 90 percent of steel products in the country. Previously, it recycled scrap metal delivered from all republics of Central Asia. Currently, scrap metal, as well as raw materials purchased outside the country are used upon tolling conditions.

The plant is designed to produce 790,000 tons of steel, 760,000 tons of rolled metal.

Currently, Uzmetkombinat is implementing a program of development and modernization of production worth $ 134.7 million for the period until 2016. The plant intends to implement three investment projects worth $ 45 million by late 2014.

It is expected that the program implementation will increase the plant's design capacity for steel production by 13.3 percent - up to 850,000 tons, processed scrap metal - almost 1.8 times to 670,000 tons, as well as reduce energy costs by 20 percent by 2016.

Uzmetkombinat increased steel production by 1.3 percent up to 746,200 tons, rolled ferrous metals - by 1.1 percent to 718,000 tons in 2013 compared to 2012.

The Uzbek Reconstruction and Development Fund was established in 2006 to finance and co-finance the projects included in the state investment program. The founder is the government through the Finance Ministry.

Currently, the Uzbek Reconstruction and Development Fund's authorized capital was brought to $ 15 billion.

The fund is exempt from all taxes, levies, duties and mandatory contributions to the state target funds, except for the single social payment.

The fund's loans are allocated for a period of seven-15 years, including a grace period from three to five years. The rate is 2.25 percent.

The fund allocated $809.5 million to implement 34 projects included in the state investment program in 2013. The total volume of lending 37 projects is planned to hit $935.6 million in 2014.

In particular, the fund will allocate money to implement the projects in such areas power engineering, oil and chemical spheres, transport, tourism, etc.

The official exchange rate is 2.250.36 soums/$ 1.

uzdaily.com  

 

March 27, 2014

  

Senate of Parliament of Kazakhstan ratified a law "On ratification of protocol on use of the agreement on free trade zone from 18 October 2011 between its member states and Uzbekistan" at its session on 27 March 2014.

The protocol was signed on 31 May 2013 in Minsk, Belarus. The document was signed at the session of the heads of the government of the CIS. The participants of the agreements are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan and Ukraine.

The protocol envisages to set import duties in mutual trade between members of the Customs Union and Uzbekistan. The document also sets other conditions of cooperation between the member states and Uzbekistan.

Till 31 December 2020 or accession of Uzbekistan to the World Trade Organization, based on which date comes first, Uzbekistan and the members of the agreements exempted from liabilities on providing national regime in mutual trade. The sides will solve disputes within bilateral talks.

Uzbekistan ratified the protocol in December 2013. President of Uzbekistan Islam Karimov signed a law "On ratification of protocol on use of the agreement on free trade zone from 18 October 2011 between its member states and Uzbekistan (Minsk, 31 May 2013)" on 27 December 2013.

Legislative Chamber of Oliy Majlis of Uzbekistan passed the law on 29 November 2013 and Senate approved it on 13 December 2013.

en.itar-tass.com  

 

March 26, 2014

  

Russia's Federation Council upper house of parliament has ratified a protocol on Uzbekistan's entering the CIS (Commonwealth of Independent States) free trade zone.

Uzbekistan has become a ninth country to join the CIS free trade zone.

The purpose of the protocol is to involve the Central Asian Republic of Uzbekistan in cooperation within the CIS and unify trade regimes. The protocol will help make the CIS free trade system universal and step up trading and economic cooperation between Russia and Uzbekistan.

adb.org  

 

March 21, 2014

  

Project Data Sheets (PDS) contain summary information on the project or program: Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

 

Description

The project, located in Takhiatash thermal power plant (TPP), will construct two units of combined cycle gas turbines (CCGT), decommission old and inefficient power generators, improve energy efficiency and increase power supply for the Karakalpakstan and Khorezm regions. The project includes a capacity development component for corporate performance improvement, and a social development component that contributes to gender equality.  Read more here.