Uzbekneftegaz, KMPO to create joint venture
13/01/2012 09:58
Uzbekneftegaz, KMPO to create joint venture
13/01/2012 09:58
Tashkent, Uzbekistan (UzDaily.com) -- Kazan Motor Construction Production Union (KMPO, Russia) and Uzbekneftegaz national holding company are planning to create a joint venture on assembly of gas gas-pumping equipment.
Russian media reported that the sides signed a memorandum of understanding, which envisages implementation of joint project within the localization programme in oil and gas industry.
In particular, it is planned to organize capacities on production of gas-pumping equipment on the base of Bukhara Repair and Mechanic Plant.
Uzbekneftegaz is planning to create own gas-pumping equipment capacities, which will produce 30 units of equipment and 1,000 units of spare parts a year. The project cost is US$50 million.
The project will be financed due to loan of the Fund for Reconstruction and Development of Uzbekistan, foreign investments – US$20 million and own resources of Uzbekneftegaz – US$10 million.
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