The European Bank for Reconstruction and Development is extending a loan of up to €10 mln to MaxCopper, a newly formed copper pipe producer in Uzbekistan. The funding will cover working capital as the company establishes and increases its production capacity, and will also go towards securing raw materials such as copper cathodes.
MaxCopper plans to manufacture copper pipes and fittings mainly for heating, ventilation and air-conditioning systems. Its output will include lightweight coils, straight pipes and pancake coils. The firm expects to export most of its products to European markets and countries in the region.
The project will enable the creation of a greenfield copper pipe facility in Uzbekistan and marks a notable step in broadening the country’s industrial landscape. As a new private manufacturer, MaxCopper will bring modern production technologies and international quality standards into the sector.
To date, the EBRD has invested €5.57 bn in Uzbekistan through 193 projects, with most of its support aimed at private sector growth and wider economic development.
