news Post
Thursday, 26 September 2024

AGMK has raised 146.0 million euros to finance the construction of a new copper smelting complex

The new copper smelting complex of the Almalyk Mining and Metallurgical Combine (AGMK) will be financed by German banks, according to the press service of the AGMK.

During the visit of German Chancellor Olaf Scholz to Uzbekistan, a business meeting was held in Samarkand between the business circles of the two countries, which was also attended by the leadership of AGMK.

As a result of the forum, a loan agreement was signed between AGMK and German banks KfW IPEX Bank and AKA. According to the agreement, German banks will provide the first tranche of 146 million euros to finance the construction of a new copper smelting complex.

We remind you that the construction of a new copper smelting complex is the second stage of the «Yeshlik» project and is estimated at $ 1 billion, while the budget of the first phase amounted to $4.8 billion.

The expected production capacity of the new plant, which will be integrated with the company's existing production facilities in Almalyk, will be 300,000 tons of copper cathode and 1.8 million tons of sulfuric acid per year.

At the second stage, it is planned to increase the smelting capacity of AGMK. Until the construction is completed, the plant will be engaged in the sale of copper concentrate.

Source of information: UzDaily.uz