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Russia’s Gazprombank to fund projects in Uzbekistan

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Russia’s Gazprombank and Russian Export Center have signed a framework agreement on joint implementation of investment projects in Uzbekistan’s oil and gas, chemical, mining and metallurgical industries, the Jahon information agency reported.

The key objectives of the three-year agreement come to promoting the development and strengthening of technological and market positions of Uzbek and Russian companies, creation of long-term incentives to increase their competitiveness in the international market, and building a consolidated position in the development of the oil and gas, mining and metallurgical industries.

The document provides for the implementation of several joint projects in the territory of Uzbekistan, including the organization of Gazprombank funding for the project on the establishment of the production of synthetic liquid fuel in Uzbekistan on the basis of purified methane of Shurtan gas chemical plant, including funding of exports of a set of air separation units of the Russian Cryogenmash Company.

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The agreement also provides for the financing of construction of a sheet metal plant with a capacity of up to 500,000 tons per year by Gazprombank, and organization of deliveries of at least 44 units of excavator equipment for the needs of the mining industry of Uzbekistan totaling $155 million in 2017-2021.

The Russian Export Center group of companies is expected to provide insurance support for financing of the projects specified in the agreement.

Source: timesca

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