Uzmetkombinat Secures €132.5 Million to Launch Uzbekistan’s First Hot-Rolled Coil Production

Tashkent, Uzbekistan (UzDaily.com) — Uzmetkombinat JSC has signed a €132.5 million seven-year loan agreement in London to complete the construction of its Casting and Rolling Complex — the first hot-rolled coil production facility in Uzbekistan.

The financing was arranged by Standard Chartered Bank (United Kingdom) and KfW IPEX-Bank GmbH (Germany), with insurance coverage provided by the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).

The funds will be used to finance and refinance expenses related to the construction, commissioning, and launch of the complex.

“We sincerely thank Standard Chartered, KfW IPEX-Bank GmbH, and ICIEC for their trust and long-term support of Uzbekistan’s industrial development. This strategic financing reflects strong international partnership and marks a new chapter for our company — the launch of the country’s first domestic production of hot-rolled coils. The project will significantly reduce import dependence, strengthen local supply chains, and give fresh momentum to key sectors of the national economy,” said Bahodir Abdullaev, Chairman of the Board and CEO of Uzmetkombinat JSC.