NEWS AND EVENTS
March 29, 2012
Triumphant Program: Olmaliq miners procure modern equipment
Olmaliq Mining and Metal Plant in late 2013 plans to launch a new sulfuric acid production line at its copper smelting plant.
Last May, Olmaliq Mining and Metal Plant signed agreements with German company OUTOTEK GmbH for design, supply of equipment and provision of technical services under the project. The total project cost is $80.2 million.
Experts believe this project was driven by the need for the further development of the copper complex and the growth in non-ferrous and precious metals production, as well as increased production of sulfuric acid to meet the needs of mineral fertilizer producers in Uzbekistan. The new plant would create a reserve capacity for the manufacture of sulfuric acid and significantly improve the environmental situation in the region.
Currently, OUTOTEK GmbH is completing the draft design and the main project will be developed by Ukrhimproekt (Ukraine). Olmaliq Mining has already received main drawings of equipment from carbon steel, to be produced by local enterprises and the plant. Olmaliq Mining and Metal Plant has allocated a site on the territory of copper smelter where Olmaliqmetallurgqurilish and specialized repair department are building support facilities.
The project is funded by the enterprise itself ($21.2 million), as well as through loans of the Fund for Reconstruction and Development of Uzbekistan ($30 million), refinanced through Ipotekabank for 7 years with a three-year grace period. Ipotekabank also provided its loans totaling $29 million.
Under the project, Olmaliq Mining is also exempt until July 1, 2014 from customs duties on imported materials, equipment and spare parts, including the technical and planning documents, not produced in Uzbekistan. (Source: Uzbekistan Today Newspaper)