Russian bank will allocate funds for the supply of fruits from Uzbekistan to Russia; France and Russia can apply for oil and gas exploration in Uzbekistan; World Bank to allocate Uzbekistan $500 million to support macroeconomic reforms; Uzmetkombinat to launch a unique production of carbon steel wire rod in April;
Russian bank will allocate funds for the supply of fruits from Uzbekistan to Russia
According to the Ministry of Foreign Affairs of Uzbekistan, the delegation of Uzbekistan headed by the Minister of Agriculture Zhamshid Khojaev visited Russia, where they held negotiation on increasing the supply of vegetables and fruits to the Russian Federation with financing from Vnesheconombank.
“During the dialogue with the chairman of VEB Igor Shuvalov, the Russian side announced its readiness to consider the possibility of financing the supply of fruits and vegetables from Uzbekistan to Russia,” the ministry’s website states.
During the negotiations with the Minister of Agriculture of the Russian Federation Dmitry Patrushev, the parties agreed to hold a meeting on a joint working group on agriculture with the involvement of Uzbek suppliers, representatives of Russian trade networks and specialized departments of the two countries.
France and Russia can apply for oil and gas exploration in Uzbekistan
The French “Total” and the Russian “Novatek” plan, by the end of March, to decide on exploration for oil and gas in Uzbekistan, said Arnaud Breuillac, President on Exploration & Production at Total .
“We are currently exploring the possibilities of developing fields in Uzbekistan with the government and in partnership with Uzbekneftegaz. We are still exploring the data. We started just a few weeks ago, so this is a very early stage of work,” he said.
He also notes that they will decide shortly, by the end of the first quarter, whether they will apply for exploration or not.
World Bank to allocate Uzbekistan $500 million to support macroeconomic reforms
Uzbekistan and the World Bank are planning this year to agree on the signing of a number of new loan agreements, the press service of the Minister of Investment and Foreign Trade of the republic reported.
“In 2019, approval and signing of loan agreements on a number of significant projects including development of entrepreneurship in the Fergana Valley, launching of Digital Uzbekistan (Digital CASA) program, reconstruction of water supply and sewage systems in a number of regions of Uzbekistan is expected,” the press service said.
The current portfolio of cooperation between Uzbekistan and the World Bank includes 39 implemented and ongoing projects with attraction of concessional financing in the amount of $4.4 billion. In the framework of the Partnership Strategy for the period up to 2020, more than 20 promising new initiatives are being considered.
Uzmetkombinat to launch a unique production of carbon steel wire rod in April
The total cost of the project exceeded US$19 million, and the Chinese company CERI acted as the supplier of the main technological equipment. Its launch will make it possible to create flexible high-performance capacities in the country, which make it possible, along with an increase in output, to expand export potential through the production of high value-added products.
According to experts, the republic’s need for wire rod exceeds 60 thousand tons per year, not to mention the requests of their neighboring countries, many of which simply lack such production. The plans of the plant to produce at least 100 thousand tons of products per year, of which approximately 30% is planned to be exported.
Among the main consumers of future products are the largest domestic enterprises – AGMK, O’zbekiston Temir Yollari, Deutsche Cable AG Tashkent, NGMK, Uzbekneftegaz, JV Uzkabel, Uzkimyosanoat, and many others. As for exports, at the first stage it is planned to work out deliveries to Afghanistan, Tajikistan and Kazakhstan.