|
|
 |
|
|
Singaporean companies intend, in the period of 2007 and 2012, to participate in the implementation of joint projects worth US$ 1,65 billion in Uzbekistan. President Islam Karimov's resolution confirms the list of 14 investment projects for realization within direct foreign investments of Singaporean companies and financial cooperation.
The list is drawn as a result of official visit of Uzbek President to Singapore from 24 to 26 January, 2007. According to the document, more investment is to be attracted to fuel and energy projects, over US$ 1,4 billion. The Temasec Holdings aims to participate in the production of synthetic fuel by constructing Ustyurt Gas and Chemical Complex, and synthetic diesel fuel and gasoline. The company also plans to implement a project on increasing the capacity of Shurtan Gas and Chemical Complex by the end of 2010. It is intended to double the capacity of polyethylene production based on ethane extracted in the sets of Unitary Branch Plant "Shurtanneftegas" under the project. The third project of the largest Singaporean holding is on intensification of oil production in continuously developed deposits and prospecting works in the East-Surkhan investment unit and another Singaporean company, Oil Tech E&P plans to conduct geological surveys here. The CW Singapore realizes a project on constructing installations for gas draining close to Kungrad in the Ustyurt region by involving a credit of Singaporean section of Societe Generale.
In the electrical industry the Union Tech Asia Pte Ltd aims to launch the production of fiber optical cable cooperatively with "Uzbektelecom" Joint-Stock Company between 2007 and 2008, and SK Multimedia and "Uzkoinot" Joint-Stock Company is setting up a joint venture for manufacturing LCD monitors. In the textile industry, the Singaporean companies plan to invest US$ 22,3 million in the construction of silkworm and garment factories.
Within the framework of financial cooperation the credit organizations of Singapore offer Uzbekistan credits of US$ 50 million. The Singaporean Oversea-Chinese Banking Corporation (OCBC) and National Bank of Uzbekistan for Foreign Economic Activity signed a two-year contract on inter-bank export credit worth US$ 50 million. The OCBC also signed a credit contract with the Uzbek Asakabank worth US$ 20 million for supporting commercial financing in Uzbekistan.
|
Date: Apr 17, 2007
Source: Uzbekistan Today |
  |
| | 
|
|
