One of the
leading enterprises of chemical industry of Uzbekistan Maxam-Chirchiq, JSC to
modernize and reequip the production of carbamide.
The company
signed a $17 million plus contract with the Russian Research and Design
Institute of Carbamide and Organic Synthesis Products, under which the
specialists of the institute will design and deliver the technological
equipment, as well as conduct installation supervision and commissioning.
Investment
project will be funded by investment commitments of the Spanish Maxam Corp.
International S.L. in the amount of $14.1 million and by Maxam-Chirchiq in the
amount of $6.4 million. After the completion of the project, the annual
production of carbamide at the enterprise will grow to 267,300 tons. This will
allow the company to annually export 165,000 tons of carbamide. Another project
aimed at enhancing the productive capacity of the enterprise is the launch of
the production of low-density ammonium nitrate. The Spanish company plans to
invest $15.4 million in this project.
Experts estimate
that today the Uzbek chemical industry is one of the fastest growing
industries, which is actively developing export markets by expanding the range
and increasing production. Thus, in the first quarter of 2011, the domestic
chemical industry enterprises manufactured products worth 295.6 billion soums.
The production growth rate amounted to 10.5% over the same period last year.
The export of chemical products reached 144% of the forecast. 89.3% of the
total volume of deliveries to foreign markets was mineral fertilizers. In
general, the country produced more than 291,000 tons of fertilizers, including
235,000 tons of nitrogen, 35,400 tons of phosphorus and 20,400 tons of potash
fertilizers.
Uzkimyosanoat
plans to implement 7 investment projects exceeding $1.6 billion in 2011-2015. A
large part of the funds will be drawn towards new construction.