Uzbekistan plans to build a mining and metallurgical complex for US$1.3 billion

Uzbekistan plans to build a mining and metallurgical complex for US$1.3 billion

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Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan wants to build a mining and metallurgical complex for US$1.3 billion.

Uzbekistan Temir Yollari plans in early 2020 to begin negotiations with the Ural Mining and Metallurgical Company (UMMC) on the construction of a mining and metallurgical complex in Uzbekistan. This was reported by RIA Novosti citing the head of the construction department of the Uzbek Railways complex Botir Rustamov.

Back in April 2017, UMMC and Uzmetkombinat JSC signed a memorandum on joint implementation of a project to build a mining and metallurgical complex on the basis of the Tebinbulak titanomagnetite ore deposit in the territory of Karakalpakstan.

And in January 2018, the President of Uzbekistan Shavkat Mirziyoyev, by his decision, determined Uzbekistan Temir Yollari as the general contractor for the construction of the complex.

«The UMMC company determined a number of activities that we needed to carry out in order for them to make a final decision in the future,» Rustamov said.

At this stage, the project is estimated at US$1.2-1.3 billion. The mining and metallurgical complex will process up to 33 million tons of ore and produce up to 1.5 million tonnes of rolled metal per year using the introduced technology. Moreover, 35% of the products are planned to be exported.