Tashkent, Uzbekistan (UzDaily.com) -- Russian VEB.RF financed the supply of mining dump trucks of OJSC BELAZ with a carrying capacity of 220 tons for the modernization of the mining and metallurgical plant in Uzbekistan.

The loan agreement between Almalyk Mining and Metallurgy Combine and VEB was signed in December last year. The approved amount of financing from VEB.RF is US$59 million, the term of the loan is up to 5 years.

The share of Russian-made components in the cost of the supplied products is more than 30 percent.

“The first transaction for the supply of Belarusian products created as a result of industrial cooperation between Russian and Belarusian enterprises to third countries has been financed. Russian and Belarusian exporters received a new instrument of support when entering promising markets. AGMK is one of VEB’s largest partners in Uzbekistan. The plant is one of the largest copper, gold and silver mining enterprises in Central Asia. As part of the modernization of the enterprise, in addition to the supply of dump trucks, at this stage, a separate credit line of up to 1.8 billion rubles is also envisaged to finance the supply of Russian mining equipment,” said Daniil Algulyan, Deputy Chairman of VEB.RF, Board Member.