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Economy 01/02/2011 Uzbekistan to implement 74 projects in oil and gas industry
Uzbekistan to implement 74 projects in oil and gas industry
Tashkent, Uzbekistan (UzDaily.com) -- Uzbekneftegaz national holding company is planning to implement 74 projects with total cost of US428.562 billion within the programme of industrial development for 2011-2015.

In particular, 37 projects of Uzbekneftegaz were included to list of projects, which are under implementation and prepared to implementation in industry. Sources of financing projects have been agreed.

Total cost of the project will make up US$19.394 billion, of which US$16.306 billion will be directed to new constructions. The volume of investments within these projects will reach US$12.388 billion in 2012-2015.

Uzbekneftegaz will invest US$1.858 billion of own resources to implementation of projects, while foreign investments and loans will make up US$16.557 billion. Fund for Reconstruction and Development of Uzbekistan (FRDU) will allocate loans for US$826.4 million and commercial banks will issue credits for US$153.1 million.

Over 14 projects were included to list of new investment projects in industry, which are under development now. Total forecasted cost of these projects makes up US$3.633 billion. In particular, some US$2.754 will be used for new construction of objects. About US$92.3 million of investments will directed to implementation of modernization and reconstruction projects and US$785.5 million to realization of projects in other directions.

It is expected that the volume of foreign investments and loans will reach US$2.023 billion and own resources of Uzbekneftegaz – US$966.2 million. FRDU will issue loans for US$644 million.

Uzbekneftegaz also develops 23 projects, which were included into the list perspective of foreign projects in industry, which are under preliminary development.

The forecasted cost of these projects makes up US$5.536 billion. It is planned to direct US$4.692 billion to new construction projects and US$844 million to modernization and reconstruction projects.

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