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NEWS

Uzbekistan to Receive $3.2 bln of Foreign Investments in 2012

17 January 2012

http://www.loansafe.org of 1/17/2012 - Uzbekistan plans to receive $3.198 billion of foreign investments on implementation of 144 projects in 2012, in accordance with the Investment Program approved by the President Islam Karimov.

Some $900.7 million from on the implementation of 47 projects and $2.297 billion on implementation of 97 projects is planned to receive through foreign loans guaranteed by the government from the total investment.

From the total amount of foreign loan investments planned for familiarization, $900,7 million on 47 projects are planned for development through foreign investments under the government, and $2.027 billion on 97 projects through direct foreign investments.

It's also planned to direct $2.027 billion of foreign investments ($1.789 billion of which are direct) to new constructions, $665.2 million (271.6 million - direct) to modernization and upgrading of existing facilities, $557 5 million ($321 million - direct) to other areas.

The largest volume of foreign investments, $2.268 billion ($1.935 billion from direct investments of foreign companies) is planned to direct to the project of the basic industries - fuel and energy sector, geology, metallurgy, chemical and petrochemical industries.

The consortium of Korean companies will continue the construction of Ustyurt gas-chemical complex at Surgil deposit in north-west of the country worth $ 3.5 billion which was launched on Aug 2011. The design capacity of GCC is meant to process 4.5 billion cubic meters of gas, production of 400 thousand tons of polyethylene and 100 thousand tons of polypropylene per year. It is planned to allocate $420 million, along with assets, of the consortium ($300 million) to the construction of GCC.

It is planned to direct $607.6 million of Chinese CNPC and the China State Development Bank investment to the construction of the third string of the Uzbekistan - China gas pipeline with capacity of 25 billion cubic meters of gas per year and total project cost of $2.2 billion in 2012.

The Russian Lukoil will invest $520 million in implementation of two PSAs in Uzbekistan worth $4.3 billion in 2012.

Uzbekistan GTL with the participation of NHC Uzbekneftegaz and Sasol of South Africa will provide $110 million construction of synthetic fuel producing plant (GTL - gas to liquid process) in Kashkadarya in the south of the provisional value of $3.7 billion.

Malaysia's Petronas will continue to develop hydrocarbon deposits in two PSA with cost of $2.07 billion in 2012. The company invests $40 million in developing of Ustyurt and in Surkhandarya field.

Singapore Indorama Group will begin the construction of gas processing facility on the basis of Mubarek Gas Processing Plant in the south, worth $1.64 billion. The investor will direct $50 million to the project.

Foreign companies plan to invest $146.8 million in exploration work in 10 projects in 2012.

In particular, Gazprom will invest $32.5 in completing exploration work in Ustyrt province with a total amount of investment worth $400 million in 2012.

Chinese CNODC will start active phase of development of Mingbulak field in Namagan province worth $211.7 million. The investor plans to invest $30 million to carry out planned work in 2012.

In Energy sector, it is planned to receive $169.7 million due to foreign loans given under government's guarantee.

In particular, Chinese Sino Coal International Engineering will complete modernization of strip mine Angrenskiy due to the Chinese Eksimbank loan worth $113.8 million.

Uzbekenergo will continue construction of power transmission line (500KW) Talimarjan thermal power-station - Sogdiana substation through the loan of the World Bank worth $110 million, and it will also start construction of power transmission line (500KW) Syr Darya thermal power-station - Novo-Angren thermal power-station through the loan worth $60 million of the Chinese Eksimbank. Some $60 million will be spent for these projects in 2012.

In 2012 Uzhimprom enterprises will receive $206.8 million including $109.2 million of foreign investment and Uzavtoprom - $257.6 million including $64.9 million of foreign investments.

Under the development of Uzbekistan's textile industry foreign investors according to the program plan to invest $87.6 million on 14 projects worth $302 million.

Some $539.2 million, including $142.9 million of foreign investment, is planned to be invested in municipal projects, transport sector, capital construction and building industry.

Mobile phone operators plan to invest $118 million in telecommunications in 2012. In particular, Unitel Ltd. (subsidiary of VympelCom Ltd.) will invest $63 million in network development, Coscom Ltd. (controls TeliaSonera) - $35 million and Uzdunrobita (subsidiary of the Russian MTS) - $20 million.

It was reported earlier that Uzbekistan planned to receive foreign investment worth $3.013 billion on 113 investment projects in 2011.

Volume of investment rose by 1.3 times hitting $2.8 billion. The direct investment also grew by 1.4 times to hit $2.4 billion in 2010.

According to the official statistics, total volume of investment in fixed assets reached $7.2 billion in January-September 2011. The total share of foreign investment was 20.4 percent ($1.469 billion compared to $1.92 billion in January-September 2010).