Uzbekneftegaz to invest 12.815bn soums to two projects in Qoqand

Tashkent, Uzbekistan (UzDaily.com) -- Uzbekneftegaz national holding company will invest 12.815 billion soums in development of industrial enterprises in Qoqand city within the programme on development Qoqand’s industrial potential for 2010-2012.

The company will realize a project on reconstruction and re-equipment of Qoqand Mechanic Plant open joint stock company to increase the volume and assortment of products. The project cost is 12.364 illion soums.

Uzbekneftegaz will direct own resources to finance the project. The project will complete in the fourth quarter of 2012 and the additional capacities for production of goods worth 13.7 billion will be created.

Uzbekneftegaz in cooperation with Khakovmash LLC (Ukraine) will realize a project "Preparation and launch of production of oil pumping equipment at Qoqand Mechanic Plant" with the cost of 451.1 million soums.

The enterprise will produce rod deep pumps and oil cradle-mounted pumps for oil pumping, as well as spare parts to them. The enterprise will produce equipment for 6 billion soums. The production will be launched in the third quarter of 2010.