On December 2, Shavkat Mirziyoyev was briefed on the progress of the transformation programs for metallurgical enterprises and their plans for 2025.
Over the past five years, approximately $9.5 billion in investments has been attracted to the mining and metallurgy sector, allowing for the launch of 15 major projects. The sector accounts for one-third of the total industrial output in Uzbekistan.
During the meeting, it was emphasized that the industry’s enterprises should become appealing companies in international financial markets. The Minister of Mining and Geology, Bobir Islamov, along with the heads of the plants, presented future plans.
In 2025, it is planned to attract $1 billion in investments for projects in the mining and geological sectors. Additionally, kaolin production is expected to increase by 50%, and coal extraction is projected to reach 10 million tons.
NGMK issued eurobonds on the international market for the first time this year—on the London Stock Exchange—and raised $1 billion at a low interest rate.
In 2025, the issuance of eurobonds worth an additional $500 million is planned.
Photo: press service of the president
At AGMK, the third factory for copper ore enrichment will be commissioned, and a new foundry-rolling complex will be established at Uzmetkombinat. The Uzbekistan Technological Metals Plant will expand its production of rare earth metals, which are in demand for the "green" economy.
The president emphasized that next year, the plants must implement significant changes through transformation to enhance their competitiveness in global markets.
Among the key tasks highlighted were: reducing production costs, complete digitalization of operations, attracting funds from international markets, implementing new technologies, and automating production processes.
Mirziyoyev noted that enterprises must quickly adapt to changes in the global economy and demonstrate initiative. Measures have also been defined to reduce expenses based on principles of economy and efficiency, as well as to ensure the uninterrupted supply of necessary raw materials to the industry.
Previously, Spot reported that four textile factories are planned to be built in the Bukhara region for $320 million.