Almalyk Mining and Metallurgical Combine (AMMC) is to construct a copper smelting complex.
German banks KfW IPEX Bank and Ausfuhrkredit-Gesellschaft mbH (AKA) will provide the construction loan for this project.
The German banks will allocate the initial tranche of 146 million euros to AGMK to construct the new production line. The loan agreement was signed during an Uzbek-German business meeting in Samarkand.
The new smelting complex is part of the Yoshlik project’s second phase, estimated to have a value of $1 billion. The budget for the first phase was $4.8 billion.
Kursiv Uzbekistan also reported that Germany and Uzbekistan plan to undertake joint projects worth $9 billion.
