Uzbekkhimmash, a subsidiary of Uzbekneftegaz, will direct more than $23 million to a foundry modernization project with construction of a new foundry.
The government of Uzbekistan has recently approved main parameters of a feasibility study on this investment project.
The new foundry’s annual capacity will be 4,000 tons of casting, of which about 500 tons will be exported.
The project will be financed through a loan from Uzpromstroybank for $20 million and own funds of Uzbekkhimmash in the amount of $3.77 million.
Today, Uzbekkhimmash is a leading enterprise in Central Asia producing pressure vessels and devices for chemical, petrochemical, gas processing and other industries. (Trend/Business World Magazine)