Uzbekistan to spend over US$2bn to upgrade chemical industry in 2009-14

Hamidulla Shermatov, deputy chairman of Uzkimyosanoat’s board of directors, has told journalists during the Industrial Expo-2009 open international fair that the programme included 12 projects worth US$269.2 million, which are at the stage of implementation, and seven projects worth US$1.79 billion, which are being drafted.

He also said that the projects were included into the government’s programme to upgrade and to technically and technologically re-equip production in Uzbekistan in 2009-14. The programme was adopted in March.

The financing of the projects will be carried out from foreign investments and loans totalling US$1.438 billion, loans by the Reconstruction and Development Fund - US$374 million, Uzkimyosanoat’s own funds - US$196.7 million and loans by Uzbek banks - US$53.3 million.