ANNOUNCEMENT 26 Feb 2013In February 2013, the government of Uzbekistan announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
On 26 February 2013 the Government of Uzbekistan adopted Decree No. 57. It contains measures concerning the implementation of an investment project for construction of an ore extraction mine in "Kairagach". It targets the expansion of the production capacity of "Almalyk' mining and metallurgical enterprise.
The total project value is at the amount30.56 million USD. "Almalyk' participates with 10.59 million USD. The rest of the investment project's value is provided by the Fund for Reconstruction and Development of Uzbekistan (6.72 million USD) and the state-related bank 'Ipoteka Bank'. The latter is to provide a bank loan (13.25 million USD) to 'Almalyk' at beneficial conditions. Namely, an interest rate must not surpass the refinancing rate of the Central Bank of Uzbekistan.
According to Decree No. 57, until 1 November 2014 the government has also exempted from customs payments (except for customs duties) the supplies of materials, vehicles, equipment and spare parts not produced in Uzbekistan, that are imported by "Almalyk' mining and metallurgical enterprise as part of the investment project.
UN Comtrade does not provide statistical data neither for Uzbekistan as importer or the rest of the world as exporter for the investment project related gold containing ores.