President Shavkat Mirziyoyev laid the symbolic foundation cornerstone of the casting and rolling complex at the Uzbek Metallurgical Complex with Italian Danieli company confirmed as the general contractor, the presidential press service reported.
The project will be funded by the complex’s own funds of US$ 91 million, loans from Russian Gazprombank and Credit Suisse of US$ 361 million.
The project is expected to be commissioned in 2020, and is designed to produce 1 million tons of steel sheets per year and create over 400 new jobs. The plant’s output is scheduled to reach 2.1 million tons per year in 2021, with US$ 350 million through import-substitution.
The President met with the staff of complex and congratulated on the Independence Day.
25% of the working-age residents of Bekabad city are employed by the complex, its share in the city’s industry is 80%.
"All these figures, all our plans are aimed at achieving one goal that people are happy with their lives. To this end, we need to ensure the stability of our economy, produce goods with high added value. We need equal conditions and accurate calculation, then the economy will work itself, results will come, people will start earning money," said Shavkat Mirziyoyev.