NGMK produced goods worth 93.9 trillion soums in 2024

Tashkent, Uzbekistan (UzDaily.com) — Navoi Mining and Metallurgical Company (NGMK) produced goods worth 93.9 trillion soums in 2024, representing a 5.3% increase compared to 2023.

The enterprise contributed 57.5 trillion soums in taxes and dividends to Uzbekistan’s state budget.

Under its investment program, NGMK invested US$790 million, leading to the creation of 715 new jobs.

Additionally, within the localization program, the company produced goods worth 916 billion soums. Through inter-industry cooperation, NGMK procured goods worth 6.2 trillion soums.

Cost optimization measures resulted in a reduction of production costs by 3.7 trillion soums.

It is worth noting that in October, NGMK issued US$1 billion in Eurobonds on the London Stock Exchange. The first tranche of US$500 million has a 4-year maturity with a 6.7% coupon yield, while the second tranche of US$500 million has a 7-year maturity with a 6.95% yield.

The total order book reached US$5.5 billion, setting a record for Uzbek issuers. In 2025, NGMK plans to issue an additional US$500 million in Eurobonds.