The Fund for reconstruction and development of Uzbekistan (FRDU) will appropriate 788.1 million US dollars to implementing a number of investment projects in strategic branches of economy.

Addressed program of 24 investment projects, realized on current year with attracting FRDU means approved by Presidential decree.      

The projects on power engineering, oil and gas and chemical fields, motor-car construction and irrigation, as well as transport infrastructure sphere with total worth of 11.62 billion USD included in list.

Upon implementing of the projects, co-financed by Fund, development of 2.019 billion USD designed on 2011. In addition to Fund means, own funds of associations and enterprises make up 455.17 million dollars and foreign investments and credits – 691.4 million dollars.    

The greatest volume of FRDU credits – 579.34 million USD are planned to develop on fuel and energy, chemical, petrochemical and metal manufacturing industry this year. Especially for realization of five projects on oil and gas field Fund envisaged crediting of 260.96 million dollars.  

Particularly, designed development of the 100 million dollars on projects of constructing Ustyrt gas and chemical complex and 20 USD – on building synthetic liquid fuel production on the basis of Shurtan gas and chemical complex, as well as 88.46 million dollars – on project aimed to after construction of the South Kemachi deposit.  On constructing of the combined-cycle plant in Navoi thermoelectric power station and installing expansion machine-generators in Talimarjan and Sirdarya thermoelectric power stations, on project aimed to moving of power units of the New-Angren thermoelectric power station into perennial coal firing – FRDU credit funds of 44.07 million USD. 

For implementing of four projects on the field of transport infrastructure will be directed 135.74 million dollars, including 77.24 million dollars for renewal of the “Uzbekistan Airways” National air company aircraft fleet.  

On developing of mining and smelting branch credit means of Fund worth 79.25 million USD will be used this year, including Almalik mining and smelting plant develop on projects of new constructing and modernizing 67.25 million dollars, and Navoi mining and smelting plant – 20 million dollars.   

The Fund for reconstruction and development of Uzbekistan has been established on May, 2006 with authorized capital stock of 1 billion USD for financing and co-financing of projects, included to state investment program. Fund’s loans allocated for a period from 7 to 15 years, including a grace period from 3 to 5 years at a rate of 2.25 percent.

On March, 2008 the President Islam Karimov has ordered to strength resource source of Fund by increasing it’s authorized capital stock five times more – up to 5 billion dollars.  

The promoters of Fund are Uzbek government in the person of Ministry of finance, as well as five largest commercial banks of the country – National bank, “Asaka” bank, Uzpromstroybank, “Agrobank” and “Ipotekabank”.

Fund’s means make at the expense of over predictable earnings to budget of excess profit tax, use of bosom and excise tax, as well as incomes from selling outputs within the framework of agreements on sharing products with foreign partners and other financial sources.     

Gazeta.uz

12.01.2011 13:22