Uzbekistan’s chemical structure Uzkimyosanoat said it was implementing 21 projects worth over $1.3 billion. President Shavkat Mirziyoyev was presented with information on the projects on March 29.
Eight projects worth about $60 million are to be completed until the end of this year. New facilities are set to replace $15 million imports and export $30 million worth of goods if all goes according to plan.
“Feasibility studies are currently being drawn up for 18 projects worth over $2.6 billion”, Mirziyoyev’s press office said.
“The overall goal is to bring the production capacity to $3 billion, the export potential of the industry is expected to reach $1.3 billion. Some 3,500 jobs will be created at the new enterprises”, it added.
According to plans, the volume of production based on deep processing of natural gas is to exceed $2.1 billion. In this case, the added value would increase 14-fold.
Three large technological clusters are to be established in the joint-stock companies Navoiazot, Ferganaazot and in the Republic of Karakalpakstan.
In particular, 16 projects worth $02.6 billion are to be implemented in Navoiazot, four projects worth $334 million in Ferghanaazot and three projects worth some $687 million in the Republic of Karakalpakstan.
“We have allocated a lot of money for the chemical industry. Energy-efficient technologies have been introduced. Now it’s time for this industry to create added value. There are great opportunities for this. If we put in order the quantitative and qualitative indicators, the price policy in each direction, exports will grow 5-6-fold,” said Mirziyoyev.
The president also urged reducing the state’s share in chemical enterprises, their transformation and the introduction of international standards of corporate governance and financial reporting in the industry. (Uzreport/Business World Magazine)