Uzbekistan Temir Yollari plans to attract ADB loan
Tashkent, Uzbekistan (UzDaily.com) --
Uzbekistan Temir Yollari state joint-stock railway company is planning to attract loan of the Asian Development Bank (ADB), Jahon news agency of the Foreign Affairs Ministry of Uzbekistan reported.
The report said the Uzbek company plans to attract US$20 million to realize investment project “Modernization of railway machineries and mechanisms fleets”. The funds will be attracted to decreases exploitation expenses and equipment with modern technical resources.
Uzbekistan Temir Yollari has work experience with the ADB. The company attracted US$70 million loan within project “Reconstruction of railroads in Uzbekistan”, which envisaged reconstruction of 320km railroad at Keles-Samarkand route, purchase of equipment, rendering consulting services, etc. Total cost of the project was US$126 million.
The Uzbek company also attracted US$70 million loan within the project “Modernization of railway in Uzbekistan”, implementation of which was launched in 2002. The project envisages reconstruction of 341 km railroad between Samarkand and Bukhara and purchase of equipment. Total cost of the project is US$155 million.
The report said within the project it is planned to lay optic fiber line to modernize telecommunication network, etc.
ADB, based in Manila, is dedicated to reducing poverty in the Asia and Pacific region through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 from the region. Uzbekistan joined ADB in 1995 and since that time has received 30 ADB loans totaling US$1.29 billion and technical assistance of US$40.75 million.