Uztransgaz will draw $57.5 million of an additional loan from Gazprombank for 2 years to extend the term of the previously received loan by $300 million and refinance current liabilities. This follows from the information of the Single Corporate Information Portal of the Ministry of Finance.
In addition, Uztransgaz will take a $200 million in a loan from the National Bank of Uzbekistan for working capital, purchase raw materials and equipment, and finance investment projects.
By an April presidential decree, Uztransgaz was instructed to introduce a special system for managing the processes of privatization and transformation, which strengthens the independence of the supervisory board and its control over the management of the company.
By the same decree, the President instructed to put the financial statements of the company in order, conduct an inventory check of accounts payable and receivable for natural gas and reduce it. Financial reporting must be conducted in line with international standards.
In 2024, Uztransgaz is scheduled to apply for an international credit rating and independently attract funds from international banks and others.
