The document was signed on 25 October within the visit of Japanese Prime Minister Shinzo Abe to Uzbekistan.

The loan was provided for construction of the plant on production of ammonia and carbamide at the base of Navoiazot. Japan’s Mitsubishi Heavy Industries and Mitsubishi Corporation received right to construct the object.

According to the JBIC, the loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd., Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, and ING Bank N.V., Tokyo Branch, with Nippon Export and Investment Insurance (NEXI) providing insurance for the cofinanced portion by the private financial institutions. The overall cofinancing amount reaches 69.24 billion yens.

As earlier reported, Navoiazot and consortium of the Japanese companies Mitsubishi Heavy Industries and Mitsubishi Corporation signed the contract for construction of the complex on production of ammonia and carbamide on EPCC (design, procurement, construction and commissioning of the plant) conditions.

According to the contract, the complex will produce 660,000 tonnes of ammonia and 577,500 tonnes of carbamide a year with introduction of technologies of leading vendors. Denmark’s Haldor Topsøe will supply equipment for ammonia production, Italy’s Saipem and Netherlands’ Uhde Fertilizer Technology will delivere equipment for synthesis and granulation of carbamide respectively.

The cost of the project exceeds US$1 billion. The project will be financed due to loan of the Fund for Reconstruction and Development of Uzbekistan for US$320 million and own resources of Navoiazot for US$120 million, as well as resources of the Japanese banks.

Navoiazot is a largest chemical plant of Uzbekistan. The plant was launched in 1964 and it specializes on production of nitrogenous fertilizers, nitronic fiber, as well as integrated production of organic synthesis.