PRESS OF UZBEKISTAN
October 11, 2017
UZBEKISTAN AND RUSSIA REACHED AN AGREEMENT ON ATTRACTING RUSSIAN FINANCING FOR NUMBER OF LARGE INVESTMENT PROJECTS IN THE OIL AND GAS SECTOR BY MORE THAN $ 3 BILLION.
Now the parties are working out specific mechanisms for investing a number of joint projects and organizing export financing, as well as insurance of Russian banks through the company EXAR (Russian Agency for Insurance of Export Credits and Investments). Recently, a major forum in this direction was held in Tashkent.
The Russian delegation was headed by Petr Fradkov, Director General of “Russian Export Center” JSC. Representatives of Gazprombank, EXAR and a number of large manufacturers, such as the group “United Machine-Building Plants”, “Power Machines”, United Metallurgical Company, “REP-Holding” and others, also attended the meeting.
Speaking at the forum, the head of the Russian delegation noted the presence of favorable factors for increasing cooperation, especially in the oil and gas industry of the country. According to him, now, according to the signed framework agreement on joint implementation of investment projects in the oil and gas, chemical, mining and metallurgical industries of Uzbekistan, the parties are studying specific issues of participation of Russian financial institutions in them.
Earlier, Uzbekistan, Gazprombank and the Russian Export Center signed a framework agreement on joint implementation of investment projects in the oil and gas, chemical, mining and metallurgical sectors of the country.
In particular, we are talking about the organization of financing from Gazprombank’s project for the creation of synthetic liquid fuel production on the basis of the refined methane of the Shurtan GCC, including financing the export of the air separation unit of the Russian company “Cryogenmash” PJSC.
In addition, the document provides for the financing of Gazprombank’s construction of a plant for the production of sheet metal with a capacity of up to 500 thousand tons per year and the organization of deliveries in 2017-2021 of excavator equipment for the needs of the mining industry of Uzbekistan in an amount not less than 44 units with a total value of at least $155 million.
(Source: «Uzbekistan Today» newspaper)