President of Uzbekistan Shavkat Mirziyev gave a start to construction of a casting and rolling complex worth $ 452 million to JSC "Uzbek Metallurgical Combine", reports press service of the President of Uzbekistan.

The President met with the collective of the plant, congratulated specialists on the Independence Day and noted that the enterprise is of great importance for the domestic industry.

"The President of our country laid the symbolic first stone, thereby launching the construction of a foundry and rolling complex. The project will be directed to the plant's own funds in the amount of $ 91 million, loans from Russian Gazprombank and Swiss Credit Suisse for $ 361 million, totaling $ 452 million," the report reads.

The project is scheduled to be fully commissioned in 2020, which to produce an additional 1 million tons of steel sheets per year and create more than 400 new jobs. As a result, in 2021 the output of finished products at the plant is scheduled to increase to 2.1 million tons per year. Due to the reduction in the import of the rolling sheet for the year, it will be possible to save $ 350 million.


“The Qazaq Times”