Uzbekneftegaz, VEB.RF sign a memorandum on the provision of a credit line for US$650 million
23/11/2020 17:50
Uzbekneftegaz, VEB.RF sign a memorandum on the provision of a credit line for US$650 million
23/11/2020 17:50
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekneftegaz together with the State Development Corporation VEB.RF are working on the issue of financing the second stage of the program to increase the production of hydrocarbons.
Within the framework of the visit of the management of Uzbekneftegaz to the city of Moscow, a meeting was held with representatives of the state development corporation VEB.RF.
During the meeting, the parties stressed the importance and effectiveness of bilateral cooperation.
The first step towards building mutually beneficial cooperation is the debut opening of a credit line to finance the supply of Russian high-tech products, perform work and provide services aimed at modernizing production facilities of Uzbekneftegaz.
During the meeting, the parties signed a memorandum of understanding, in which the parties determined further steps and deadlines for the implementation of their goals.
The memorandum will serve as the basis for financing the implementation of the program to increase the production of hydrocarbon raw materials being implemented in the Republic of Uzbekistan. The goal of the project is to provide the country’s economic sectors and population with sufficient energy resources.
It should be noted that the memorandum was signed to provide a credit line in the amount of US$650 million.
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