ANNOUNCEMENT 29 Aug 2015In August 2015, the government of Uzbekistan announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
On 29 August 2015 the Cabinet of Ministers of Uzbekistan approved with Decree No. 254 the issuance of credit to Almalikski Mining and Metallurgical Plant. The loan is at an amount equivalent to 12.8 million USD with a maturity of 7 years, a grace period of 3 years and an annual interest rate of 6.00 percent.
The credit is related to the contract between Almalikski Mining and Metallurgical Plant and «DAL TEKNIK MAKINA TICARET VE SANAYI AS» (Turkey). This agreement is for development of working documentation for the technological part, delivery and installation of equipment, construction and installation works at the total amount of 29.0 million USD.
In this regard, the Ministry of Foreign Economic Relations, Investments and Trade of the Republic of Uzbekistan, has developed a feasibility study for the investment project "Expansion of a cement plant in Jizzakh* region". The deadline for finalisation of this project is September 2016. Decree No. 254 also approved the technical and economic parameters of this particular project-related feasibility study.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
*Jizzakh: in Uzbek: Jizzax / ; in Russian: .