Currency rates from 31/10/2024
$1 – 12774.34
UZS – -0.08%
€1 – 13848.66
UZS – 0.13%
₽1 – 132.17
UZS – 0.55%
Search
Economy 31/10/2024 President explores joint venture in chemical sector

President explores joint venture in chemical sector

Tashkent, Uzbekistan (UzDaily.com) —  On 31 October, President Shavkat Mirziyoyev arrived in Navoi region, one of the key industrial areas of Uzbekistan.

Navoi region, with its high economic and investment potential, is actively developing, leading to the establishment of new enterprises.

The President visited the joint venture Uzbekistan Hydrogen Peroxide, located in the city of Navoi, and learned about its operations.

The hydrogen peroxide produced at this facility is widely used across various industries in Uzbekistan. The annual demand for this chemical compound exceeds 15,000 tons, and now it can be fully met by domestic production, which commenced at the facility this year.

A factory was built as part of the project, costing around US$30 million, equipped with modern equipment supplied from China, India, Turkey, Germany, Italy, and Sweden. Approximately 80 people are employed here, and the plant’s production capacity allows for the production of up to 30,000 tons of hydrogen peroxide per year.

This product is in demand in the chemical, metallurgy, electrical engineering, pharmaceuticals, textiles, food, and agricultural sectors. Specifically, hydrogen peroxide is used in the production of paper, household and industrial chemicals, as well as in uranium and cobalt extraction. Additionally, it is utilized for packaging cleaning and bleaching synthetic fibers.

The high economic efficiency of the plant is also due to the deep processing of natural gas, which is transformed into high value-added products. For instance, a 60% hydrogen peroxide solution yields three times more added value in medicine and twice as much in household chemicals.

The plant is equipped with a modern laboratory for product analysis, where quality control is conducted hourly. The President inspected the technological process and engaged with the plant’s employees.

“The key goal of every project is to ensure high profitability and create added value. In this respect, this enterprise is of particular significance. It is also essential to ensure reliable raw material supplies for sustainable production and to strengthen customer trust. Preferential lending can be considered within the localization program,” noted Shavkat Mirziyoyev.

The head of state instructed responsible officials to assist in creating similar projects and support entrepreneurs.

Previously, Uzbekistan had to import hydrogen peroxide, which incurred significant costs. Now, domestic production will fully satisfy internal demand and replace imports. Moreover, there are no analogs of this plant in the region.

Half of the production is directed to the domestic market, while the remainder is exported to CIS countries and Europe. The plant quickly fulfilled export deliveries worth approximately US$1.5 million, with its annual export potential estimated at US$10 million.

The facility has also organized the production of plastic containers for storing and transporting products. To ensure the production is powered by alternative energy, solar panels with a capacity of 27 kilowatts have been installed.

Notably, private enterprises in Uzbekistan’s chemical sector were virtually nonexistent previously. This plant has become one of the first private entities to enter this field in recent years.

Information was also presented regarding plans for further expansion of the enterprise. In particular, in collaboration with the Turkish company Orbak Metal Industry, plans are underway to increase production capacity to 45,000 tons of hydrogen peroxide per year and to organize a project in the food industry in the adjacent area.

#Shavkat Mirziyoyev  
Stay up to date with the latest news
Subscribe to our telegram channel