CHINA COAL TO INVEST $ 88 MLN IN MODERNIZATION OF COAL MINING IN UZBEKISTAN
Press service of JSC “Uzbekcoal”, 11.04.2014
On April 9, JSC “Uzbekcoal” and the Chinese company China Coal Technology & Engineering Group (CCTEG) signed a contract for the modernization of the coal mining system in the Surkhandarya region worth 88.5 million US dollars.
The Chinese company will replace the existing mining technology at the Boisun and Shargun coal deposits. In particular, CCTEG will carry out a turnkey supply of two mechanized complexes with a capacity of 450 thousand tons of coal per year each. The project also includes the modernization of the coal transportation system.
The commissioning date for the first complex is 2015, the second – 2016. Equipment deliveries may begin in the third quarter of this year. The contract was signed following a tender won by CCTEG in June 2013.
The project will be financed with a total cost of $ 101.3 million through a loan from the Chinese Eximbank in the amount of $ 89.5 million, as well as its own funds – $ 11.8 million.
According to the calculations of industry experts, during the modernization of deposits and the expansion of the raw material base, the production of coal in Uzbekistan may increase to 900 thousand tons in 2020 against 20 thousand tons at the end of 2013.