REC and Uzbekistan sign number of agreements

The delegation of REC included the leaders of EXIAR.

During the visit to Uzbekistan, the Head of the REC Petr Fradkov held a meeting with the Chairman of the Board of the Uzbekneftegaz Alisher Sultanov and took part in the Russian-Uzbek talks in an expanded format.

Within the framework of the visit, the REC signed a number of agreements with the companies of Uzbekistan.

One of the signed documents was a quadripartite agreement between EXIAR, Gazprombank, the Ministry of Finance of the Republic of Uzbekistan and Jizzakh Petroleum JV.

The agreement is aimed at financing an investment project for construction of an oil refinery in Jizzakh region. The agreement fixes agreements on possible organization of project financing by Gazprombank under the insurance coverage of EXIAR.

REC, Gazprombank and Uzbekneftegaz signed an agreement on implementation of the project for production of synthetic liquid fuel based on purified methane of the Shurtan gas chemical complex.

The parties intend to organize financing for the project from Roseximbank (a member of the REC Group) and Gazprombank under the insurance coverage of EXIAR.

REC and Uzpromstroybank signed an agreement. The document sets the agreement on establishment of a credit limit for operations with Uzpromstroybank for US$41 million to finance supply of Russian-made products to Uzbekistan.