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Finance 19/01/2012 FRDU to issue US$758m to investment projects in 2012
FRDU to issue US$758m to investment projects in 2012
Tashkent, Uzbekistan (UzDaily.com) -- Fund for Reconstruction and Development of Uzbekistan (FRDU) will allocate US$758.1 million to implementation of 29 projects in 2012, which were included to investment programme of 2012.

In particular, the FRDU will issue resources to implement projects in such sectors as energy, oil and gas, chemistry, transport and social infrastructure. Their total cost makes up US$36.6 billion and it is planned to use investments for US$5.746 billion due to all sources of financing in 2012.

At the project implementation, co-financed by the FRDU, it is planned to use US$1.79 billion in 2012. Along with the Fund’s resources, the project participants will invest US$257.7 million of own resources and attract US$774.2 million of foreign investments and loans.

In 2012, the FRDU will direct the largest volume of loans (US$573.6 million) to implementation of projects in fuel-energy, chemistry, petrochemical industries and metallurgy sector.

At the same time, the Fund will issue loans for US$305 million to implement seven project in oil and gas sector, US$172.97 million to seven project in power sector, as well as US$60 million to three projects in chemistry sector.

The FRDU will allocate US$59.5 million to transport sector. In particular, Uzbekistan Havo Yollari will get US$21.05 million to project on modernization and unification of aircraft fleet, while Uzbekistan Temir yollari US$38.8 million to project on development of repairing base of fleet.

To the project on update of passenger transport, it is planned to issue US$36.3 million and purchase of road construction equipment – US$68.3 million.

Fund for Reconstruction and Development of Uzbekistan was created in May 2006 in line with the presidential resolution “On measures on organization activity of the Fund for Reconstruction and Development of Uzbekistan”. The fund was founded for financing and co-financing important investment projects, included into the state investment programme.

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