Tashkent, Uzbekistan (UzDaily.com) -- On 7 July, President Shavkat Mirziyoyev got acquainted with a presentation on the achieved key indicators and planned projects in the chemical industry.

The Chairman of the Board of Uzkimyosanoat Jurabek Mirzamakhmudov informed about the work done to diversify the industry and develop the production of new products in pursuance of the resolution of the President of the Republic of Uzbekistan from 25 October 2018. It was noted that over the past 3 years, industry production increased by 1.5 times, and exports - by 2 times.

Most importantly, the industry, which was previously characterized by chronic unprofitability, ended 2021 with a net profit of 1.6 trillion soums.

For six months of this year, the company’s enterprises produced products worth almost 7 trillion soums, the growth in production volumes amounted to 11 percent. Exported goods worth US$218 million.

By the end of the year, it is planned to increase production to 14 trillion soums, export - to US$425 million. To this end, in the second half of the year it is planned to produce 650,000 tons of nitrogen, 70,000 tons of phosphate and 120,000 tons of potash fertilizers, 80,000 tons of polyvinyl chloride.

The head of state noted the need for systematic work to improve the efficiency and transformation of enterprises in the industry. It was indicated that it is possible to reduce the cost by at least 6 percent due to energy saving and localization.

The presentation also provided information on future promising projects. It was noted that US$400 million of investments would be disbursed and 9 projects launched by the end of the year. In particular, it is planned to organize the production of methylcellulose, technical gas, liquid mineral fertilizers at Navoiazot, and foamed polypropylene, organic fertilizers and polymer products at the Chirchik Chemical Technopark.

The President stressed that new projects should be implemented only with the involvement of private investment. Delivered the task is to form a portfolio of projects worth at least $1 billion in 5 chemical clusters.

Instructions were also given to accelerate the privatization of enterprises of the joint-stock company.